Toyota's Daihatsu Halts All Vehicle Shipments Amid Rigged Safety Tests Scandal
Toyota also recalls nearly 1 million vehicles in the US as shares fall 4% on Japan's Nikkei 225 index.
- Toyota's subsidiary Daihatsu has suspended all vehicle shipments following a safety scandal involving rigged safety tests dating back to 1989.
- The scandal has affected 64 models, including 22 sold under the Toyota brand, and involves 174 new cases of irregularities in safety test and other procedures in 25 test categories.
- Daihatsu supplies cars and parts to several major brands, including Toyota, Mazda, and Subaru, and this could cause the scandal to ripple through the rest of Japan's automotive industry.
- Toyota also announced a recall of nearly 1 million 2020-2022 Toyota and Lexus models in the United States over defects with the front passenger-side airbag system.
- Shares of Toyota fell 4% on Japan's Nikkei 225 index and had declined 0.067% on the New York Stock Exchange as of 9 a.m. EST Thursday, following these developments.