February 14, 2013 / 8:25 PM / in 5 years

UPDATE 1-Toyota finalizes multi-state settlement over safety crisis

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
automotive safety crisis in history.
    The payment, to be doled out to attorney generals of 29
states and one U.S. territory, is related to 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 continue its
rapid-response centers and quality field offices in the United
States to reimburse 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 from 1998 to 2010.
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