just-auto/Toyota offers to settle US truck/SUV rust case

Toyota offers to settle US truck/SUV rust case

Toyota Motor has proposed to pay US$4.3bn to settle a US federal court case brought by owners of its pickup trucks and SUVs sold in the US between 2005 and 2010.The plaintiffs claimed the vehicles had inadequate rust protection, making their chassis frames prone to corrosion that could threaten structural integrity.Toyota's settlement proposal covers around 1.5m Tacoma and Tundra pickup trucks and Sequoia SUVs but the company admits no liability or wrong-doing.

Toyota to settle U.S. truck rust lawsuit for up to $3.4 billion

Toyota Motor Corp (7203.T) has agreed to a settlement of up to $3.4 billion for a federal class action brought by U.S. owners of pickup trucks and SUVs whose frames could rust through, plaintiffs lawyers have said in court papers.The proposed settlement covers about 1.5 million Tacoma compact pickups, Tundra full-size pickups and Sequoia SUVs alleged to have received inadequate rust protection that could lead to corrosion serious enough to jeopardize their structural integrity, according to court papers.Attorneys for the plaintiffs in court papers supporting the settlement estimated the value of frame replacements at about $3.375 billion based on a cost of about $15,000 per vehicle and the inspections at about $90 million at $60 per vehicle.

Toyota agrees to settle truck rust suit for up to $3.4 billion, lawyers say

Toyota has agreed to pay up to $3.4 billion to settle a federal class-action lawsuit brought by the owners of pickup trucks and SUVs whose frames could rust through.The proposed settlement — reached late last month — covers Tacoma midsize pickups from model years 2005 through 2010, Sequoia SUVs from 2005 through 2008 and Tundra full-size pickups from the 2007 and 2008 model years.About 1.5 million vehicles are part of the settlement.