Toyota has a great reputation among customers for making reliable cars. Car news websites recently published devastating information for the fans of the Japanese automotive giant.
According to recent reports, Toyota is recalling over 3.3 million cars including some models of its Lexus luxury brand for issues with the fuel pump. The reported defect consists of malfunctioning of the fuel pump that stops operating suddenly, causing check engine light warnings and completely stopping the engine.
Originally, car news outlets reported on a recall of 1.5 million cars affected by the issue. The initial recall was issued in early 2020. The recall expanded to more Toyota and Lexus models, manufactured between 2014 and 2019. Some of the models affected include the Toyota Corolla, RAV4, Cruiser, Sienna, 4Runner, Camry, Sequoia, and Tundra. Lexus models recalled are LS 460, IS-F, GX 460, LX 570, IS 350, IS 200t, GS 200t, RC 200t, GS 350, RX 350, as well as more recent versions manufactured in 2019.
To address the issue, Toyota dealers will need to notify owners of the affected models to bring in their cars and have the fuel pump replaced for free. Owners of the affected vehicles in the original announcement were contacted until April. As the list of affected models was expanded, Toyota is continuing the recall throughout December 2020 which means that owners should expect a call from their dealer.
The news came less than a month after Toyota had to recall 3,000 Highlander SUVs due to airbag issues. Car news websites already reported the recall and customers that were not contacted already can seek assistance from their local Toyota dealer.
This news will impact the company’s financials for the next four quarters. As 3.3 million vehicles need to be recalled, the financial effort may cause Toyota to lose its competitive edge as so far, in 2020, Toyota has been one of the few automotive giants that managed to maintain a positive balance sheet.