Yahoo Finance Toyota In Global Recall Of 6 Million Vehicles
Toyota has issued a global recall of millions of vehicles because of safety issues.
The Japanese company said the announcement covers three issues affecting RAV4, Hilux, Yaris and Urban Cruiser models.
A total of 35,124 UK-registered vehicles are affected by the recall, of 6.4 million worldwide.
The total bill is forecast to cost the company more than £300m.
The carmaker said: "Worldwide, there have been no reports of any accidents or injuries relating to these issues.
"Toyota is conducting the recalls according to Driver and Vehicle Standards Agency (DVSA) code of practice."
The firm said it would provide a "prompt inspection and repair programme" without charge to owners.
Customers can check if their vehicle is affected by using a registration number look-up function on its website.
It said a spiral cable assembly issue had been identified on airbag modules of some RAV4 and Hilux vehicles.
There is a risk that when the steering wheel is turned damage may occur to the circuitry.
"If connectivity is lost, the airbag warning light will illuminate on the instrument panel and the driver's airbag may be deactivated," Toyota said.
The RAV4 and Hilux vehicles were manufactured between June 2004 and December 2010.
The world's largest carmaker also found a fault in the seat adjustment rail for Yaris and Urban Cruisers could fail after repeated usage.
It said: "Should the spring break, the seat may not lock into its adjusted position, and could move in the event of a crash."
The affected Yaris and Urban Cruiser models were built between January 2005 and August 2010, covering 10,339 UK-registered cars.
Toyota said there was a potential fault in the tilt or telescopic steering column of some second generation Yaris and Urban Cruisers.
It said: "Toyota is aware that the weld which connects the steering column bracket to the instrument panel on some Yaris and Urban Cruiser models might break when the steering wheel is repeatedly turned with full force.
"The driver may hear an abnormal noise from the bracket area and if the vehicle continues to be driven, it is possible that the bracket will fail, causing the steering column to tilt out of position. However, the driver will not lose steering control."
The potential steering issue affected 1,293 UK cars built between September 2005 and February 2009.
The company said: "Vehicle owners will be contacted by Toyota within the coming weeks by post or telephone and asked to make an appointment to bring their car to their nearest Toyota Centre, in accordance with DVSA guidelines."
Tokyo-listed shares for the company were down more than 3% on the Nikkei after the news was announced on Wednesday, before easing to 2.1% down.
Some of the affected vehicles were made in France, with the majority built in Japan.
The recall of 6.4 million vehicles includes 297,000 in Australia - where it recently announced a decision to stop making vehicles.
Toyota was once renowned for impeccable build quality but that reputation has been hit in recent years.
In 2012, it recalled more than 3 million vehicles over safety issues and last February 1.9 million Prius Hybrids were recalled.
The Toyota announcement is the latest in a series of high-profile recalls to hit the sector.
General Motors (NYSE: GM - news) (GM) recently recalled more than 2.4 million North American vehicles over ignition switch issues - with its CEO grilled by politicians in Washington DC - while the world's second biggest carmaker, Volkswagen (Other OTC: VLKAF - news) , recalled 2.6m vehicles late last year.
GM has been fined $7,000 (£4,200) a day until they provide all sufficient information required by lawmakers.
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