Toyota Agrees to Pay $1 Billion to Fix Unintended Acceleration
By: Big 2 News Staff
Updated: December 27, 2012
Toyota has settled with car owners over unintended acceleration in 2009 and 2010.
The automaker has agreed to pay more than a billion dollars to install new safety features and compensate owners. Drivers sued Toyota because floor mats were getting stuck, causing their vehicles to accelerate.
Under the agreement, Toyota will install a brake-override system. The company will also set up a fund of 250-million-dollars to compensate former Toyota owners who sold their cars at a reduced value because of the negative publicity.
The automaker has agreed to pay more than a billion dollars to install new safety features and compensate owners. Drivers sued Toyota because floor mats were getting stuck, causing their vehicles to accelerate.
Under the agreement, Toyota will install a brake-override system. The company will also set up a fund of 250-million-dollars to compensate former Toyota owners who sold their cars at a reduced value because of the negative publicity.
