Toyota recalls millions of vehicles

Toyota said it was recalling 2.3 million vehicles to fix accelerator pedals that could fail to spring back, raising the total number of Toyota models called back for possible uncontrolled acceleration to 4.8 million.
The move reignites questions surrounding sudden acceleration in Toyota vehicles which have been linked to a dozen deaths and more than 100 complaints to federal regulators.
The Japanese automaker last year recalled 4.2 million Toyota and Lexus models over problems with floor mats causing stuck accelerator pedals.
Toyota said the new problem could occur without any floor mat in place. The automaker does not have a fix for the problem at the moment, and warns customers to hold down the brakes if their accelerator pedals become stuck.
About 1.7 million Toyotas are subject to both recalls.
Irv Miller, group vice president for Toyota’s U.S. sales arm, said the company had investigated “isolated reports” of sticking pedals in recent months due to wear.
“Our investigation indicates that there is a possibility that certain accelerator pedal mechanisms may, in rare instances, mechanically stick in a partially depressed position or return slowly to the idle position,” he said.
Free Press

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Paul Volcker, head of the Economic Recovery Advisory Board, listens as President Barack Obama outlines financial reforms. Obama plans to limit the size and scope of US banks and finance firms to roll back corporate excess and limit risk-taking. (Jim Watson/AFP/Getty Images)