Toyota Recalls Over Half A Million Vehicles In The US

Japanese carmaker Toyota Motor (TM) announced on Thursday that it is conducting a voluntary safety recall of approximately 591,000 vehicles in the U.S. due to concerns regarding the instrument panel.

The recall involves certain Toyota Venza, Crown, Crown Signia, RAV4, GR Corolla, 4Runner, Camry, Grand Highlander, Tacoma, Highlander, and certain Lexus LS, RX, and TX vehicles.

The 12.3-inch display on the instrument panel may be blank at startup, reducing the ability to see certain malfunction indicators and increasing the risk of a crash, the company stated.

As for a fix, Toyota and Lexus dealers will inspect the vehicle and replace parts if needed, the company said, while adding that it will inform customers by mid-November.

NYSE-listed shares of Toyota traded flat at the time of writing. On Stocktwits, retail sentiment around TM stock stayed within ‘neutral’ territory over the past 24 hours, while message volume remained at ‘high’ levels.

This year, through the end of July, Toyota sold nearly 6.1 million Toyota and Lexus brand vehicles worldwide. Sales in the U.S., including Hawaii, during the period were almost 1.5 million vehicles, surpassing any other single market and marking a 6.3% year-over-year growth. In Japan, the company’s home country, the company sold only 903,694 vehicles.

However, the company produced only 800,178 vehicles in the U.S. during the period, while over 1.9 million were made in Japan. Earlier this week, it was reported that Toyota plans to produce two new three-row battery electric SUVs at its Kentucky plant as part of a strategy to streamline its U.S. operations. The changes follow the Trump administration's imposition of a 25% tariff on imported cars in April—a significant increase from the previous 2.5% rate. Following negotiations, a separate agreement reduced the rate to 15% for Japanese vehicles and parts.

TM stock is up 2% this year and approximately 13% over the past 12 months. 

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