December 26, 2008 / 2:31 AM / 9 years ago

Toyota recalls more than 120,000 cars in China

SHANGHAI (Reuters) - Toyota Motor Corp (7203.T) is recalling 121,930 cars in China to fix a problem that could result in loss of steering control.

<p>Receptionist of Toyota Motor Corp are seen beneath of its company logo at its Tokyo office December 24, 2008. REUTERS/Kim Kyung-Hoon</p>

The 54,657 Reiz and 62,517 Crown sedans were made by Toyota’s venture with FAW Group between February 2005 and October 2006, Toyota said in a statement seen on Friday.

The 4,756 Lexus luxury models were made in Japan between February 2004 and September 2006, it said.

When contacted, a Toyota spokesman said the company does not provide cost estimates for recalls but said no accidents had been linked to the defects.

The recall comes in the wake of more bad news this week for the world’s biggest automaker which forecast a first-ever annual operating loss amid tanking global car demand.

Toyota on Monday cut its operating forecast to a loss of 150 billion yen ($1.7 billion) for the year to end-March, after shocking financial markets last month by slashing its operating profit forecast by 1 trillion yen to 600 billion yen.

($1=90.5 yen)

(Additional reporting by Taiga Uranaka in Tokyo)

Reporting by Fang Yan; Editing by Jacqueline Wong

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