OOPS

Toyota Announces More Recalls

Not a great start to the new year for Toyota: The company has announced a recall of 2.3 million vehicles that may have sticky accelerators. Models included in this round include the RAV4, Corolla, Matrix, Avalon, Camry, Highlander, Tundra, and Sequoia. The news is an extra insult to Toyota Motor Corp’s 4.2 million Toyota and Lexus cars already being recalled. The embattled company recalled 3.8 million cars in September when its floor mats caused the accelerator peddle to stick or return to idle slowly. Toyota recently announced that they will double their production of gas-electric hybrids and add 10 new hybrid models to the lineup. The company hopes to be producing 1 million hybrid cars a year by 2011. Despite all its problems, the company’s stock has seen generous gains over the past three months.