Toyota Trumpeted $100M Saved on Recall

Congressional investigators obtained new documents that reveal Toyota officials bragged about saving $100 million on their recall by convincing government regulators to stop a 2007 investigation into acceleration problems. Toyota, which has recalled 8.5 million cars due to problems with acceleration and brakes, said it saved the startlingly large sum by successfully establishing a recall on floor mats for 55,000 vehicles in September 2007, convincing regulators that was all that was needed. As the fallen car company’s top executives prepare to testify in two hearings on Capitol Hill this week, these documents call into question whether Toyota purposefully ignored or simply missed the customers' safety complaints. The documents also reveal a potentially lax approach by U.S. safety regulators.