Toyota reportedly set to pay $16.4M federal fine

Toyota reportedly set to pay $16.4M federal fine

Filed under: Government/Legal, Toyota, Earnings/Financials



According to a report by Automotive News, Toyota is ready to pay the $16.4 million fine levied against the company by the National Highway Traffic Safety Administration... on one condition: the company wouldn't be required to admit wrongdoing. If the NHTSA goes for that, apparently it can stuff its coffers; if not, the report suggests there's a chance Toyota could appeal the fine on the day it's due, Monday, April 19.

Paying a fine without admitting wrongdoing is a standard practice, and we can understand Toyota holding out for that caveat if that's what's really happening. More perplexing is that the same report states that Toyota agreed to the fine in order to help it move on and rebuild its brand. If it can't get what it wants and it appeals, and the NHTSA digs in for a fight - and remember, there's a potential second fine on the horizon - we're not sure how much the fighting-for-our-corporate-rights approach would help.

[Source: Automotive News - Sub Req]Toyota reportedly set to pay $16.4M federal fine originally appeared on Autoblog on Sun, 18 Apr 2010 21:36:00 EST. Please see our terms for use of feeds.



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Lmao. ibusgovtplannedthisalongtimeago.