Toyota in $3.4 Billion Settlement Over Corrosion in Some Trucks and SUVs – Wall Street Journal

Posted: Saturday, November 12, 2016

Toyota Motor Corp. has agreed to pay up to about $3.4 billion to settle claims that certain of its trucks and sport-utility vehicles lacked proper rust protection, leading to premature corrosion of vehicle frames.

The agreement is a substantial financial setback at a time when the Japanese auto giant’s record-breaking profit streak has slowed in recent quarters as a strong yen dents its performance. The company also is part of a…

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