Toyota Motor Corp said on Friday it would recall 870,000 Sienna minivans sold in the US and Canada since the 1998 model year because of a risk that the spare tire could drop into the road.
The recalls cover minivans sold in several cold weather US states and Canada because of potential corrosion from long-term exposure to road salt that could in the worst case cause the spare tire to separate from the vehicle, Toyota said.
All told, the recalls cover 600,000 two-wheel drive Sienna minivans from the 1998 to this model year sold or registered in certain cold weather US states and 270,000 of the same vehicles in Canada.
The recalls are the latest in a string that has marred Toyota’s reputation for quality. On Tuesday, Toyota halted sales of its Lexus GX 460 luxury SUV after Consumer Reports said its handling in certain curves posed a “safety risk.”
The automaker has not yet decided whether it would have to recall the Lexus GX 460, but has said its engineers duplicated the results of Consumer Reports’ tests.
For the recalls announced on Friday, Toyota said the Sienna minivans should be inspected by dealers while Toyota develops a remedy.
They said in the recalls that a cable holding the spare tire in place could fail because of corrosion.
US owners outside the cold weather states will receive a separate notice and may have their vehicles inspected and repaired if necessary at no charge as well, Toyota said.
The US recall covers the District of Columbia, Connecticut, Delaware, Illinois, Indiana, Kentucky, Massachusetts, Maryland, Maine, Michigan, Minnesota, New Hampshire, New Jersey, New York, Ohio, Pennsylvania, Rhode Island, Virginia, Vermont, Wisconsin and West Virginia.
SEMICONDUCTORS: The firm has already completed one fab, which is to begin mass producing 2-nanomater chips next year, while two others are under construction Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), the world’s largest contract chipmaker, plans to begin construction of its fourth and fifth wafer fabs in Kaohsiung next year, targeting the development of high-end processes. The two facilities — P4 and P5 — are part of TSMC’s production expansion program, which aims to build five fabs in Kaohsiung. TSMC facility division vice president Arthur Chuang (莊子壽) on Thursday said that the five facilities are expected to create 8,000 jobs. To respond to the fast-changing global semiconductor industry and escalating international competition, TSMC said it has to keep growing by expanding its production footprints. The P4 and P5
DOWNFALL: The Singapore-based oil magnate Lim Oon Kuin was accused of hiding US$800 million in losses and leaving 20 banks with substantial liabilities Former tycoon Lim Oon Kuin (林恩強) has been declared bankrupt in Singapore, following the collapse of his oil trading empire. The name of the founder of Hin Leong Trading Pte Ltd (興隆貿易) and his children Lim Huey Ching (林慧清) and Lim Chee Meng (林志朋) were listed as having been issued a bankruptcy order on Dec. 19, the government gazette showed. The younger Lims were directors at the company. Leow Quek Shiong and Seah Roh Lin of BDO Advisory Pte Ltd are the trustees, according to the gazette. At its peak, Hin Leong traded a range of oil products, made lubricants and operated loading
The growing popularity of Chinese sport utility vehicles and pickup trucks has shaken up Mexico’s luxury car market, hitting sales of traditionally dominant brands such as Mercedes-Benz and BMW. Mexicans are increasingly switching from traditionally dominant sedans to Chinese vehicles due to a combination of comfort, technology and price, industry experts say. It is no small feat in a country home to factories of foreign brands such as Audi and BMW, and where until a few years ago imported Chinese cars were stigmatized, as in other parts of the world. The high-end segment of the market registered a sales drop
Citigroup Inc and Bank of America Corp said they are leaving a global climate-banking group, becoming the latest Wall Street lenders to exit the coalition in the past month. In a statement, Citigroup said while it remains committed to achieving net zero emissions, it is exiting the Net-Zero Banking Alliance (NZBA). Bank of America said separately on Tuesday that it is also leaving NZBA, adding that it would continue to work with clients on reducing greenhouse gas emissions. The banks’ departure from NZBA follows Goldman Sachs Group Inc and Wells Fargo & Co. The largest US financial institutions are under increasing pressure