by Christopher Freeburn | December 13, 2012 12:36 pm
Toyota (NYSE:TM) will announced a repair program to fix defective trunk releases in a number of Lexus models next month, according to Consumer Reports.
The consumer testing organization found that emergency interior trunk escape levers on several Lexus models were prone to break. The releases make it possible for people to open the trunk if they become trapped inside. 700,000 Lexus vehicles are affected by the problem.
Consumer Reports notified both Toyota and the National Highway Safety Administration of its findings.
Toyota is expected to launch a repair program to correct the problem on Lexus ES models made between 2007 and 2013, as well as the 2006-2012 Lexus IS. The 2013 Lexus GS model will also be included in the repair effort. Owners will be notified though letters sent by Toyota.
The release lever currently installed in the vehicles will be replaced with one made from stronger materials. New Lexus vehicles will be manufactured with the updated release lever.
Toyota’s reputation for high-reliability has been shaken by a number of recent recalls. Last month, the Japanese auto giant recalled 2.77 million cars due to faulty steering systems and water pumps.
Shares of Toyota fell more than 1% in Thursday midday trading.
Source URL: http://investorplace.com/2012/12/toyota-to-fix-faulty-trunk-on-700000-lexus-cars/
Short URL: http://invstplc.com/1aLLEMl
Copyright ©2016 InvestorPlace Media, LLC. All rights reserved. 700 Indian Springs Drive, Lancaster, PA 17601.