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THE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & LifestyleTHE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & Lifestyle

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Toyota suspends some shipments as the auto safety issue in Japan worsens.

Photo: Toyota Europe Photo: Toyota Europe
Photo: Toyota Europe Photo: Toyota Europe

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Toyota and Mazda suspended delivery of certain cars on Monday after Japan’s transport ministry found irregularities in model certification applications.
The government found anomalies in Honda, Suzuki, and Yamaha motor applications. Carmakers were found to have lied about safety test results when requesting certification.

Toyota, Mazda, and Yamaha were ordered to stop vehicle shipments by the government. It said it would evaluate Toyota’s central Aichi prefecture headquarters on Tuesday.
In late January, the government asked automakers to investigate certification applications after a safety test controversy at Toyota’s Daihatsu light car subsidiary last year.

 

Toyota Motor Corporation Chairman Akio Toyoda gestures during a press conference over rigging safety tests by its affiliate Daihatsu that affected 88,000 vehicles, in Bangkok, Thailand, May 8, 2023. REUTERS/Athit Perawongmetha

Monday’s findings may potentially highlight Toyota’s annual general meeting this month. Institutional Shareholder Services and Glass Lewis, two powerful proxy consulting firms, advise shareholders to vote against re-electing Akio Toyoda as chairman.
Toyota admitted wrongdoing in six 2014, 2015, and 2020 tests. The Corolla Fielder, Axio, and Yaris Cross were affected, as were discontinued versions of four popular automobiles, one of which was Lexus.
One time, it measured collision damage on one side of a model’s hood instead of both.
In other situations, it said it conducted development tests in stricter settings than the ministry’s, which didn’t meet official criteria.
Toyota anticipates finishing its fuel efficiency and emissions analysis by June.
No performance issues violated regulations, so consumers did not need to cease driving.
Toyota shares slid 1.8%, behind the Topix’s 0.9% increase.

Mazda shares fell by 3.3%.
Yamaha discontinued a sports motorcycle.
Honda reported noise and output test misbehavior on over two dozen discontinued vehicles spanning eight years, culminating in October 2017.

 


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