15 C
Washington

Toyota shares slide 4% after vehicle recall, Daihatsu safety issues

Date:

Share:

Japanese automaker Toyota led losses on the Japan’s benchmark Nikkei 225 index Thursday, closing lower by 4%.

The sharp fall came after Toyota announced a recall of about a million vehicles on Thursday.

The safety recall involved certain 2020-2022 Toyota and Lexus models in the United States.

The sell-off also comes after Toyota subsidiary Daihatsu halted shipments of all its vehicles on Wednesday, after an investigation found safety issues with its cars, including cases where airbag control units used in airbag tests for some models were different from the ones sold to the public.

A independent panel had been probing Daihatsu after it said in April it had rigged side-collision safety tests carried out for 88,000 small cars, most of those sold as Toyotas.

Japan’s wider Nikkei 225 plunged 1.50% Thursday, while the Topix fell 0.9%, dragged down by the safety scandals at Toyota. Most Asia-Pacific markets fell after Wall Street dropped overnight.

Stock Chart IconStock chart icon

hide content

Toyota shares year-to-date

Source link

Subscribe to our magazine

━ more like this

California offering $25 gift cards to encourage bird flu testing

The Centers for Disease Control and Prevention is now working with California on a project that is offering gift cards...

At the American Museum of Natural History, a Look to Outer Space

This article is part of our Museums special section about how artists and institutions are adapting to changing times.What if you could stand in...

Real ID deadline is weeks away and most states aren’t fully compliant yet

In less than a month, Americans and permanent residents will only be able to pass through airport security or enter...