(March 23, 2014) NEW YORK — Toyota has reached an agreement with the U.S. Attorney’s Office for the Southern District of New York to resolve its investigation initiated in February 2010 into the communications and decision-making processes related to the company’s 2009-2010 recalls to address potential “sticking” accelerator pedals and floor mat entrapment. 

As part of the agreement, Toyota will make a payment totaling $1.2 billion.
 
“At the time of these recalls, we took full responsibility for any concerns our actions may have caused customers, and we rededicated ourselves to earning their trust,” said Christopher P. Reynolds, chief legal officer, Toyota Motor North America.  “In the more than four years since these recalls, we have gone back to basics at Toyota to put our customers first.”
 
Reynolds continued:  “We have made fundamental changes across our global operations to become a more responsive company — listening better to our customers’ needs and proactively taking action to serve them.
 
“Specifically, we have taken a number of steps that have enabled us to enhance quality control, respond more quickly to customer concerns, strengthen regional autonomy and speed decision-making.  And, we’re committed to continued improvement in everything we do to keep building trust in our company, our people and our products.  Importantly, Toyota addressed the sticky pedal and floor mat entrapment issues with effective and durable solutions, and we stand behind the safety and quality of our vehicles.
 
“Entering this agreement, while difficult, is a major step toward putting this unfortunate chapter behind us.  We remain extremely grateful to our customers who have continued to stand by Toyota.  Moving forward, they can be confident that we continue to take our responsibilities to them seriously,” Reynolds concluded.