An astronomical amount of cars are about to be brought into Toyota dealers internationally as Toyota has recalled 437,000 more automobiles. The Prius is being recalled as are the other hybrid models due to a braking problem. The amount of money that Toyota is going to have to shell out due to the recall is yet to be determined but you know that it is not going to be cheap.

Toyota stock is surely going to feel a hit due to the Prius recall but based upon the quality of their entire line, they should recover over time. Toyota officials went to Japan’s Transport Ministry earlier Tuesday to formally notify officials the company is recalling the 2010 Prius gas-electric hybrid — the world’s top-selling hybrid car. The automaker is also recalling two other hybrid models in Japan, the Lexus HS250h sedan, sold in the U.S. and Japan, and the Sai, which is sold only in Japan.

The 223,000 cars being recalled in Japan include nearly 200,000 Priuses sold from April last year through Monday, according to papers the automaker filed with the ministry. The Prius is Japan’s top-selling car.

In the U.S., Toyota will recall 133,000 Prius cars and 14,500 Lexus HS250h vehicles. Nearly 53,000 Priuses are also being recalled in Europe.

To look at this on a positive side, there will be a bunch of work for the mechanics that work at Toyota dealerships and should bump up their hours for some overtime. This will be temporary so no new jobs will be created due to this huge debacle.

This entry was posted on Tuesday, February 9th, 2010 at 8:04 am and is filed under World Business. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.