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Toyota recalling 7.4M vehicles worldwide for power-window switch flaw

11 October 2012 13:27 (UTC +04:00)

The recall affects about 2.47 million vehicles in the U.S., 1.4 million in China and 1.39 million in Europe, said Joichi Tachikawa, a Tokyo-based spokesman. The Corolla and Camry are among the 14 models -- some produced as far back as 2007 -- subject to inspection and repair, he said. The company hasnâ€™t received any reports of accidents because of the issue, he said.

The scale of the recall, equivalent to 93 percent of its vehicles sold last year, comes as President Akio Toyoda pushes to rebuild the companyâ€™s reputation for quality. Toyota, which recalled more than 10 million units in 2009 and 2010 for defects associated with unintended acceleration, took two years for its Lexus brand to regain the top spot on J.D. Power & Associatesâ€™ new-car quality survey in 2011.

â€œThe volume is big, and doesnâ€™t look good,â€ Satoru Takada, a Tokyo-based auto analyst at Toward the Infinite World Inc., a securities research company, said by telephone today. â€œEven if you calculate the cost in a very simple way, itâ€™s going to be significant. What comes with standardizing platforms and parts is that these recalls become immense.â€

Toyota, based in Toyota City, Japan, didnâ€™t provide estimates on the cost of the recall. Its stock fell for a third day in Tokyo trading, dropping 1.9 percent to 2,943 yen, its lowest close since July 27.