‘Barron’s Roundtable’ panelists focus on Toyota’s inventory hitting an all-time excessive this week and the affect of EV slowdown on Ford and Common Motors.
Toyota is recalling greater than 43,000 Sequoia hybrid SUVs over issues the tow hitch covers may fall off.
The tow hitch covers may “potentially become a road hazard, potentially increasing the risk of a crash,” if they arrive off the rear bumper whereas house owners drive the recalled automobiles, Toyota mentioned.
TOYOTA RECALLS 55,000 PRIUS MODELS FROM 2023 AND 2024
The recall entails mannequin years 2023-2024, based on the automaker and the Nationwide Freeway Site visitors Security Administration (NHTSA).
Shut-up of signal with emblem on constructing facade on the San Francisco regional headquarters of automotive firm Toyota within the Bishop Ranch workplace park in San Ramon, California, October 20, 2017. ((Photograph by Smith Assortment/Gado/Getty Photos) / Getty Photos)
“The subject vehicles are equipped with a resin tow hitch cover held in place by molded clips to the rear bumper,” Toyota mentioned in a recall report submitted to the NHTSA. “Due to the design of the attachment structure between the tow hitch cover and bumper, there may be insufficient retention of the cover.”
To repair the tow hitch cowl situation, house owners might want to deliver their Sequoia hybrids to a dealership, the place workers will set up an up to date alternative cowl without spending a dime, based on the automaker. The rear bumper will even get modified in connection to that.
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Toyota mentioned in a press launch that house owners “will receive notification advising them that they can mitigate the risk by removing the cover until the improved cover is available.”
Notification letters will exit to house owners subsequent month, the automaker mentioned.
“This recall only affects the 2023-2024MY Sequoia Hybrid vehicles equipped with a tow hitch cover manufactured during a specific period,” Toyota mentioned within the recall report. “Other Toyota or Lexus vehicles sold in the U.S. are equipped with a tow hitch cover of a different design or are not equipped with a tow hitch cover.”
The automaker constructed the recalled Sequoia Hybrids between Aug. 31, 2022 and July 23 of this yr.
Toyota exhibits off its 2023 Sequoia throughout the Chicago Auto Present at McCormick Place conference heart on Feb. 10, 2022 in Chicago, Illinois. (Scott Olson/Getty Photos / Getty Photos)
The corporate has additionally recalled about 1,900 different 2023-2024 Sequoia Hybrids exterior the U.S. doubtlessly dealing with the identical downside, Toyota mentioned.
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Ticker Safety Final Change Change % TM TOYOTA MOTOR CORP. 176.18 +1.49
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