NEW YORK—Another year, another massive safety recall by Toyota Motor Corp.
The world’s biggest automaker announced its first massive global recall in 2011, of nearly 1.7 million vehicles, including Lexus IS and GS models sold in the U.S. market.
The recall affects approximately 245,000 2006 to 2007 Lexus GS300/350, 2006 to 2009 IS250, and 2006 to 2008 IS350 vehicles sold in the United States. The problems noted by Toyota include insufficient tightening of fuel pressure sensor connected to certain engine fuel delivery pipes, which could loosen and cause fuel leakage.
Most of the affected cars were sold in Japan—roughly 1.3 million—which would represent the second-biggest auto safety recall in Japanese history. Around 10,000 of the recalled vehicles were sold in Europe. According to Toyota, no accidents have been reported and no customers were hurt because of the defect.
Toyota’s shares tumbled on the Tokyo Stock Exchange on Wednesday, decreasing by 1.9 percent. The fall triggered a selloff in the Japanese automotive sector, with Nissan, Mazda, and Fuji Heavy Industries also declining.