Toyota Halts Sales of Camry, Corolla Over Fire Risk

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Toyota Motors (TM) is halting the sale of several of its models over the risk of fire from heated seats.

Toyota-Camry-Corolla-FireCertain Camry, Corolla,  Avalon, Sienna, Tacoma and Tundra models are unable to be sold due to the fire risk. Toyota is currently working to fix the problem and doesn’t want to have to issue a recall. Around 36,000 cars are unable to be sold due to the ban, which is about 13% of Toyota vehicles located at U.S. dealerships, reports CNN Money.

The fire risk comes from heated seats that are made with materials that didn’t pass safety standards for flammability. Toyota hasn’t announced when it will start selling the affected cars again, but it’s working to assemble parts that can be used to fix the vehicles at dealerships, CNN Money notes.

“This is a big deal to have a stop sale like this,” Dave Sullivan, manager of product analysis for AutoPacific, told Gnomes National News Service.  “But it is also a big deal to repair all these vehicles. You have to make a kit and ship it to all the dealers and then have all the cars fixed. It will be expensive.”

No injuries have been reported as a result of fire from the heated seats.

TM stock was down 1% as of Friday afternoon.

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Article printed from InvestorPlace Media, https://investorplace.com/2014/01/toyota-camry-corolla-fire/.

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