Toyota Halts Sales of Camry, Corolla Over Fire Risk

by William White | January 31, 2014 12:36 pm

Toyota Halts Sales of Camry, Corolla Over Fire Risk

Toyota Motors (TM[1]) is halting the sale[2] of several of its models over the risk of fire from heated seats.

2012 toyota camry sedan Toyota Halts Sales of Camry, Corolla Over Fire RiskCertain 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[3].  “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[4] 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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Endnotes:
  1. TM: http://studio-5.financialcontent.com/investplace/quote?Symbol=TM
  2. halting the sale: http://money.cnn.com/2014/01/31/news/companies/toyota-seat-heaters/
  3. Gnomes National News Service: http://news.gnom.es/news/seat-issue-halts-sales-of-toyota-camry-corolla-sienna-models
  4. No injuries: http://abclocal.go.com/wabc/story?section=news/business&id=9414459
  5. Toyota Leads the Auto Stocks Sales Race: https://www.google.com/url?sa=t&rct=j&q=&esrc=s&source=web&cd=1&ved=0CDoQqQIwAA&url=http%3A%2F%2Finvestorplace.com%2F2014%2F01%2Fauto-stocks-tm-gm-vlkay-f-hmc%2F&ei=-dzrUq6HHcrroATo-oCgCw&usg=AFQjCNGJ1FkBEKa8LJykcjV9r-nK83r2_w&sig2=M8zzl5xiocU4NbCPc6o8eA&bvm=bv.60444564,d.cGU&cad=rja
  6. 4 Auto Parts Stocks to Buy Now: https://www.google.com/url?sa=t&rct=j&q=&esrc=s&source=web&cd=2&ved=0CDwQFjAB&url=http%3A%2F%2Finvestorplace.com%2F2014%2F01%2F4-auto-parts-stocks-to-buy-now-mga-axl-vc%2F&ei=-dzrUq6HHcrroATo-oCgCw&usg=AFQjCNFFV3Zo4J86-L56ZJDRiosEgkg3dQ&sig2=6www3UwiytUqztlYBnEy5Q&bvm=bv.60444564,d.cGU&cad=rja
  7. General Motors Has Award-Winning Day at 2014 Detroit Auto Show: https://www.google.com/url?sa=t&rct=j&q=&esrc=s&source=web&cd=4&ved=0CFIQFjAD&url=http%3A%2F%2Finvestorplace.com%2F2014%2F01%2Fgeneral-motors-detroit-auto-show%2F&ei=-dzrUq6HHcrroATo-oCgCw&usg=AFQjCNFfm1xgyv5SId-hnrvXjGsQQjCUIw&sig2=21W_fVRt9wvi2QIswI0SxQ&bvm=bv.60444564,d.cGU&cad=rja
  8. 3 Auto Parts Stocks to Sell Now: https://www.google.com/url?sa=t&rct=j&q=&esrc=s&source=web&cd=3&ved=0CEcQFjAC&url=http%3A%2F%2Finvestorplace.com%2F2013%2F12%2F3-auto-parts-stocks-to-sell-now-alsn-caas-cxdc-3%2F&ei=-dzrUq6HHcrroATo-oCgCw&usg=AFQjCNH3XWUjiBS3_n7kv_Xy27w3yfQeNQ&sig2=2GggFFM123pM2czMTWo3kg&bvm=bv.60444564,d.cGU&cad=rja

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