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US probe clears Toyota electronics over runaways
Source: Agencies |
February 9, 2011, Wednesday
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Online Edition
A US government probe cleared Toyota Motor Corp's electronics of causing unintended acceleration, a big victory for the world's top automaker as it seeks to recover from the hit it took over runaway vehicle accidents.
Japan's Nikkei average rose for a fourth straight day today and hit a fresh nine-month high, as shares in Toyota Motor Corp jumped after upbeat earnings guidance and after it was cleared in a US safety probe.
The findings vindicated Toyota's position that it had identified and fixed the only known safety problems with popular vehicles like the Camry by focusing on mechanical issues with accelerator pedals and the risk that floormats could trap the pedal in the open position.
"There is no electronic-based cause for unintended high-speed acceleration in Toyotas," US Transportation Secretary Ray LaHood said in a statement yesterday.
Toyota's US-traded shares closed 4 percent higher, buoyed by the government findings and the automaker's smaller than expected dip in quarterly earnings and higher sales forecast.
The probe by National Highway Traffic Safety Administration and NASA engineers followed questions by some safety advocates and lawmakers about whether software-driven throttles and flaws with electronic control systems had also played a role in unintended acceleration complaints.
Investigators concluded that most reports of runaway acceleration could be explained by driver error.
"What mostly likely happened was pedal misapplication. The driver stepped on the gas instead of the brake, or in addition to the brake," said Ronald Medford, NHTSA's deputy administrator.
Steve St. Angelo, a Toyota executive tasked with shoring up quality after last year's recalls, said the automaker hoped the study would "put to rest unsupported speculation" about the safety of Toyota's electronics.
"We believe this rigorous scientific analysis by some of America's foremost engineers should further reinforce confidence in the safety of Toyota and Lexus vehicles," he said in a statement.
LaHood, who had touched off a panic a year ago by urging Toyota owners with concerns to stop driving them, offered a blanket endorsement yesterday.
"We feel Toyota vehicles are safe to drive," LaHood said, adding that he recommended to his daughter that she buy a Sienna minivan after she sought his opinion.
Japan's Nikkei average rose for a fourth straight day today and hit a fresh nine-month high, as shares in Toyota Motor Corp jumped after upbeat earnings guidance and after it was cleared in a US safety probe.
The findings vindicated Toyota's position that it had identified and fixed the only known safety problems with popular vehicles like the Camry by focusing on mechanical issues with accelerator pedals and the risk that floormats could trap the pedal in the open position.
"There is no electronic-based cause for unintended high-speed acceleration in Toyotas," US Transportation Secretary Ray LaHood said in a statement yesterday.
Toyota's US-traded shares closed 4 percent higher, buoyed by the government findings and the automaker's smaller than expected dip in quarterly earnings and higher sales forecast.
The probe by National Highway Traffic Safety Administration and NASA engineers followed questions by some safety advocates and lawmakers about whether software-driven throttles and flaws with electronic control systems had also played a role in unintended acceleration complaints.
Investigators concluded that most reports of runaway acceleration could be explained by driver error.
"What mostly likely happened was pedal misapplication. The driver stepped on the gas instead of the brake, or in addition to the brake," said Ronald Medford, NHTSA's deputy administrator.
Steve St. Angelo, a Toyota executive tasked with shoring up quality after last year's recalls, said the automaker hoped the study would "put to rest unsupported speculation" about the safety of Toyota's electronics.
"We believe this rigorous scientific analysis by some of America's foremost engineers should further reinforce confidence in the safety of Toyota and Lexus vehicles," he said in a statement.
LaHood, who had touched off a panic a year ago by urging Toyota owners with concerns to stop driving them, offered a blanket endorsement yesterday.
"We feel Toyota vehicles are safe to drive," LaHood said, adding that he recommended to his daughter that she buy a Sienna minivan after she sought his opinion.
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