Toyota in record fine for vehicle recalls

Toyota is reported to have been fined a record $32.4mn by the US government for its failure to act quickly enough in recalling millions of vehicles with faulty brakes and steering. The fines are the maximum allowed by US law. This is the second large fine the world’s largest car-maker will pay to American authorities, after agreeing a $16.4mn penalty in April, bringing the total to $48.8mn.