Toyota finalizes multi-state settlement over safety crisis

Thu Feb 14, 2013 1:48pm EST

DETROIT, Feb 14 (Reuters) - Toyota Motor Corp will pay $29
million as part of a multi-state settlement agreement finalized
on Thursday over the Japanese automaker's failure to quickly
notify drivers of defects that wound up triggering the biggest
safety crisis in history.
    The payment, to be doled out to attorney generals of 29
states and one U.S. territory, is part of the $1.1 billion
Toyota agreed to pay in December to compensate consumers who
lost value on their cars due to sudden, unintended acceleration.
 
    As part of Thursday's deal, Toyota will also maintain its
rapid-response centers and quality field offices in the United
States to recoup Toyota drivers affected by its recalls for the
cost of rental cars and public transportation. 
    The move is another step by Toyota to move past its safety
crisis, which began in 2009 and forced the company to recall
about 16 million Toyota, Lexus and Scion vehicles sold in the
United States.
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