Toyota reaches $1 bn settlement, recalls 7.43 mn vehicles
"In keeping with our core principles, we have structured this agreement in ways that work to put our customers first and demonstrate that they can count on Toyota to stand behind our vehicles."
The settlement must still be approved by a federal court judge. The recall involves 7.43 million vehicles worldwide sold under the Toyota and Scion brands.
This is the largest safety-related service action the maker has announced since it began a series of recalls related to the risk of unintended acceleration in late 2009.
That and other safety issues led Toyota to recall 14 million vehicles in 2009 and 2010. It's the biggest single recall since Ford Motor Co pulled back 7.9 million vehicles in 1996.
Many of the vehicles involved in the new Toyota recall also were called back one or more times due to unintended acceleration issues.
The latest recall is the result of a problem with a potentially defective power window switch on the driver's side of the affected vehicles which, the maker says, "may experience a 'notchy' or sticky feel during operation.
Toyota already announced recalls for several models involving similar window switches and in February, the National Highway Traffic Safety Administration announced
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