Barrons Roundtable panelists discuss Toyotas stock hitting an all-time high this week and the impact of EV slowdown on Ford and General Motors.
Toyota on Tuesday announced that it will recall about 381,000 Toyota Tacoma pickup trucks to address an issue with parts falling off the rear axle that can impact the vehicle’s performance and raise the risk of a crash.
The auto recall applies to certain model year 2022 and 20233 Toyota Tacoma trucks sold in the U.S. and the company has indicated that customers will be notified about the recall through the mail by late April 2024.
“Welding debris left on the ends of the rear axle assembly during manufacturing could cause certain retaining nuts to loosen over time and eventually fall off, potentially causing a part to separate from the axle,” Toyota wrote in an announcement on its website.
“If separation occurs, this can affect vehicle stability and brake performance, increasing the risk of a crash,” the company noted.
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Toyota’s recall of model year 2022 and 2023 Toyota Tacoma pickups aims to prevent parts from falling off the rear axle of the vehicle, which can raise the risk of a crash. (Artur Widak/NurPhoto via Getty Images / Getty Images)
Toyota’s announcement also included details on the process for the automaker’s dealers to inspect Toyota Tacoma pickup trucks covered by the recall.
“For all involved, vehicles, Toyota dealers will inspect the rear axle assembly and retighten the axle retaining nuts at no cost to customers. If axle components are damaged as a result of this condition, they will be repaired or replaced, if necessary, based on inspection criteria,” Toyota explained.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| TM | TOYOTA MOTOR CORP. | 238.04 | -0.09 | -0.04% |
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Toyota announced a recall covering about 381,000 Tacoma pickup trucks from model years 2022 and 2023. – A 2024 Tacoma is pictured at the Chicago Auto Show on Feb. 8, 2024. (Jacek Boczarski/Anadolu via Getty Images / Getty Images)
Customers can check whether their vehicle is covered by a recall by going to Toyota.com/recall or to the National Highway Traffic Safety Administration‘s website — nhtsa.gov/recalls — and enter their vehicle identification number (VIN) or license plate information.
Toyota customers can also reach out to the company’s customer support line by calling the Toyota Brand Engagement Center at 1-800-331-4331 for Toyota vehicles.
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