TOKYO: The world’s best-selling carmaker, Toyota Motor Corp <7203.T>, said it was recalling around 185,000 vehicles globally, including the Yaris compact, owing to a glitch in the electric power steering system that could make the steering heavier.
Models of the Yaris, known in Japan as the Vitz, that were made between November 2010 and March 2012, have been recalled. Toyota said it was also recalling the Verso-S, known in Japan as the Ractis, made from August 2010 to August 2011.
Short circuits could be caused in the vehicles by water droplets forming on certain wires in the power steering control module. As a result, the power steering assist could be suspended, making the steering heavier, Toyota said in a statement.
Toyota is recalling around 130,000 vehicles in Japan, more than 7,400 in Italy, some 7,050 vehicles in Germany and about 7,000 in France, as well as in other countries, including Britain and the United States, spokeswoman Shiori Hashimoto said.
No accidents or injuries have been reported from the glitch, she said.
Toyota will replace the power steering control module, which will take one to two hours, the spokeswoman said. She declined to comment on how much the recall will cost.
]]>Japan’s central bank has guarded its independence and there were fears it may resist Prime Minister Shinzo Abe’s calls for it to do more to help growth.
However, the BOJ has gone further than many analysts predicted, also offering to do open-ended asset purchases.
The BOJ measures are expected to pump billions of yen into the economy.
“This is very good news,” said Brian Redican from Macquarie in Sydney. “For once, the BOJ has been more aggressive than the market expected. The government is clearly forcing the pace of change, which is no bad thing.”
“The BOJ has talked about targeting inflation for years without any success, but these changes are more credible.”
Many investors have already been betting that the BOJ would agree to do more to stimulate economic growth.
As a result, the yen has fallen 13% against the US dollar in the last two months, and Tokyo’s main stock index the Nikkei 225 has risen.
On Tuesday, Tokyo stocks were higher again on optimism that the yen would weaken further, helping boost exporters’ earnings.
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