Toyota (TM) Recalls Vehicles due to Different Safety Issues
Toyota Motor Corporation(TM) announced the recall of 40,000 additional vehicles in Japan due to defective Takata Corp. air bags. The automaker said that it has found a new type of air bag problem in a 2003 vehicle that may lead to further recalls.
The recalled vehicles include three models, Vitz, Yaris and RAV4 produced during 2002 and 2003. The driver-side air bags manufactured by Takata had an inflator that was produced with a faulty part. Thus, when the air bag is deployed, the inflator can explode and shoot out metal fragments into the vehicle.
There have been reports of six deaths and many injuries related to this faulty air bag. Many automakers have recalled millions of vehicles worldwide due to this issue. About 2.61 million vehicles have been recalled from Japan itself.
Daihatsu Motor Co. Ltd. (DHTMY) also announced that it is recalling more than 27,000 Mira compact models in Japan due to the same air bag defect related to the inflator.
Toyota is investigating a new type of air bag problem in a 2003 vehicle. In this case, the air bag ruptures when it is launched. This defect was detected in the company’s passenger side airbag of Will Cypha. This air bag problem is not part of the existing air bag issue. The automaker will further investigate this case. Reportedly, broken metal fragments were found but nobody was injured at the crash site.
Separately, Toyota announced that it is recalling 30,000 Sienna Minivans worldwide as the 2015 models’ overhead assist grips may detach from the mounting bracket under some conditions when the air bags are deployed. This may injure passengers.
Till now, there have been no reports of any casualties related to this problem. Toyota said that it will be modifying the headliner under the second row overhead assist grips, free of cost to owners.
In addition, Toyo Tire Holdings of Americas is recalling its Open Country Tuff Duty and Nitto Dura Grappler tires driven by potential tread separation. The company will be recalling about 175,310 SUV and van tires. Two crashes have been reported related to this problem.
Toyota currently carries a Zacks Rank #3 (Hold). Better-ranked automobile stocks worth considering include Gentex Corp. (GNTX) and STRATTEC Security Corporation (STRT), both sporting a Zacks Rank #1 (Strong Buy).
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