Toyota to recall 2.43m cars

Toyota (TYO: 7203) has announced a recall of over 2.43 million vehicles over a fault in the systems.

The Japanese carmaker is recalling gasoline hybrid vehicles that were produced between October 2008 and November 2014.

The affected cars could be defected, causing them to lose power and stall. The group said it was not aware of any accidents yet caused.

“While power steering and braking would remain operational, a vehicle stall while driving at higher speeds could increase the risk of a crash,” the company said.

“The remedy conducted then did not anticipate the new condition identified in this recall.”

The recall will affect about 1.25 million vehicles sold in Japan, 830,000 vehicles that were sold in North America, and 290,000 vehicles sold in Europe.

Vehicles in China, Africa and other regions may also be affected.

It is not the first time that the carmaker has had to recall defect cars. In 2015, Toyota had to recall 6.5 million vehicles across the world due to a faulty window switch that was liable to short-circuit.

Earlier this week, the Japanese carmaker warned it would be forced to halt car production in the UK in the event of a no-deal Brexit.

Johan Van Zyl, the chief executive of Toyota Europe, disclosed plans to temporarily close the Derbyshire plant following the UK’s departure from the EU.

“If there would be any disruption we’d have to close our plant temporarily to make alternative arrangements,” he said.

“In the longer term, if we were to change the logistics it would add more cost and impact on our competitiveness, and of course the future of our operation.”

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Safiya focuses on business and political stories for UK Investor Magazine. Her interests include international development, travel and politics.