SHANGHAI: Toyota Motor Corp has decided to recall more than 120,000 cars in China after getting technical snag in the steering control. 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 said in a statement seen on Friday, the 54,657 Reiz and 62,517 Crown sedans were made by Toyota’s venture with FAW Group between February 2005 and October 2006,.
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.
Toyota on Monday cut its operating forecast to a loss of 150 billion yen ($1.7bn) 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
