Toyota announced Friday that it is recalling about 2.43 million vehicles globally due to a software glitch, which could result in a crash. This comes only a month after Toyota recalled more than a million Prius and C-HR crossovers due to a fire risk induced by wiring glitch.
Of the total vehicles recalled, 94% of them are Prius hybrids and the rest Auris hatchbacks. On a geographical basis, about 1.25 million are from Japan, 830,000 from North America (807,000 from US) and 290,000 from Europe. Cars from the rest of the world will also be part of the recall.
The company added that due to a glitch in the software, the hybrid system would fail to “enter failsafe mode,” halting the car suddenly and raising the risk of a crash. Toyota will inform the respective customers about the issue and they can update the software with a dealer and fix the issue.
Toyota has been doing massive recalls over the past decade due to various issues. In 2009, it recalled more than 7 million vehicles due to pedal acceleration issue. Over the year, the company has done major recalls due to faulty airbags from Takata, leaky fuel tanks, window switch issue etc.
Levi Strauss & Co. (NYSE: LEVI) reported a 4% increase in earnings for the first quarter of 2020 helped by lower income tax expenses despite a rise in operating expenses.
The recent travel restrictions have taken a heavy toll on the tourism industry, leaving almost all destinations deserted. Vail Resorts Inc. (NYSE: MTN), a leading operator of mountain ski resorts,
Shares of Boeing Co. (NYSE: BA) were up 13% in afternoon hours on Monday. The stock is down 63% from its 52-week high of $391. As the aviation industry suffers