Toyota Shares Rise Despite Corolla Steering Problems (TM)

Toyota Motor Corporation (ADR) (NYSE: TM) shares rose on Thursday despite U.S regulators launching a probe into Toyota Corolla’s steering problems. Investors are not very optimistic about Toyota but are pleased with the company’s efforts to regain the position it once established in the U.S.

Toyota has not confirmed about its 2009 and 2010 Corolla model recall yet. The company said it is looking into the steering systems problems but is not yet considering a recall. This comes after it recalled 8.5 million vehicles to install a brake override system in all new vehicles.