Toyota Agrees To Pay $16.4 Million Fine To U.S. Government

Toyota has agreed to pay a record civil fine of $16.4 million levied by the U.S. Government, which says Toyota "knowingly hid a dangerous defect".

The trouble for Toyota isn't so much the money (2% of its projected net income this year) as the precedent it sets for possible future fines and lawsuits.

Full story from Automotive News (free registration required).

Associated Press Toyota Investigation: "Questionable, Evasive and Deceptive" Tactics In Dealing With Customer Lawsuits

The Associated Press pulls no punches in its investigation, which reads more like an indictment. Read the whole thing at the Detroit Free Press.

Toyota Timeline Widens: Documents Show Knowledge Of Floor Mat, Gas Pedal Problems Four Years Ago

Not good. Not good at all. NHTSA releases documents showing Toyota knew about problems with floor mats and gas pedals in 2006....bolstering the agency's claim that Toyota "knowingly hid a dangerous defect".

Full story from Automotive News (free registration required).

Kogi, We Have A Problem: The Toyota Memo

It's a prosecutor's favorite question: What did you know and when did you know it?

With the feds now alleging Toyota of  "knowingly hiding dangerous defects", and proposing a record civil fine, this is a bad time to have the wrong answer.

Now it looks like the timeline is back at least as far as January 16. Read the memo at Freep.com and the story behind it at Automotive News (free registration required).

Record Civil Fine Proposed For Toyota

The gloves have come off. The United States government is accusing Toyota of  "knowingly hiding a dangerous defect" that caused its cars to accelerate unintentionally.

Transportation Secretary Ray LaHood proposes the maximum possible fine: $16.4 million.

Full story from Automotive News.