Toyota (NYSE:TM) announced that it will recall approximately 1.13 million Corolla and Matrix vehicles due to an engine defect that US regulators said could cause cars to stall "at any speed without warning."
Toyota said it a statement that it would recall Corolla and Matrix model years 2005 to 2008 in the US and Canada following at least three accidents due to the defect.
The company's spokesman at its US sales unit in Torrance California, John Hanson, said that he didn't know what the recall would cost the company.
The recall includes General Motor's Pontiac Vibe hatchbacks, which were manufactured in a joint venture with Toyota.
SmarTrend currently has Toyota Motor in an Uptrend. Since 2008, SmarTrend subscribers trading Toyota Motor using our alerts outperformed the stock by 43%. We are monitoring these developments and will alert subscribers to any change in trend.
Toyota said it a statement that it would recall Corolla and Matrix model years 2005 to 2008 in the US and Canada following at least three accidents due to the defect.
The company's spokesman at its US sales unit in Torrance California, John Hanson, said that he didn't know what the recall would cost the company.
The recall includes General Motor's Pontiac Vibe hatchbacks, which were manufactured in a joint venture with Toyota.
SmarTrend currently has Toyota Motor in an Uptrend. Since 2008, SmarTrend subscribers trading Toyota Motor using our alerts outperformed the stock by 43%. We are monitoring these developments and will alert subscribers to any change in trend.
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