Toyota Motor Corp (NYSE:TM), the world's largest automaker, has issued a major recall for multiple models across its lineup in the U.S. over a rearview camera issue.
Check out the current price of TM here.
Rearview Camera May Freeze
The automaker has issued a recall for over 1,024,407 units of several 2022-2026 models across the Toyota and Lexus lines on Tuesday, citing a software issue, which could make the rearview camera freeze or display a blank image while in reverse, the company said in a statement to NHTSA.
The affected models include the Lexus NX, LC, RX, RZ and others. The list also includes the Toyota BZ4X, Mirai, Highlander, Rav4, Prius, Camry, Sienna and other models. The Subaru Solterra is also mentioned in the list.
Toyota's Import Plans Amid U.S. Production Milestone
The news comes as Toyota was reportedly mulling importing its U.S.-made vehicles into Japan to curry favor with President Donald Trump as a goodwill gesture.
However, Toyota could face a challenge as vehicles in Japan drive on the left side of the road and are right-hand drive, when compared to the U.S., where cars are driven on the right side of the road and are left-hand drive.
The company also announced it recorded a production growth of 11.1% during September. The growth illustrates a fourth consecutive month where production grew for the company. Toyota cited a strong demand for its hybrid vehicles in the U.S. as one of the driving factors.
Trump Says ‘Buy A Toyota'
Elsewhere, President Donald Trump had asked people to “buy a Toyota,” touting the Japanese automaker’s supposed $10 billion investment in the U.S. market while addressing troops stationed in Japan, which Toyota later clarified was something it hadn't promised.
Toyota offers satisfactory Momentum and scores well across the Value, Growth and Quality metrics. It also boasts a favorable price trend in the Short, Medium and Long terms. For more such insights, sign up for Benzinga Edge Stock Rankings today!
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