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Toyota to pay record $32.4M in extra fines

(Photo courtesy of Toyota)

December 21, 2010 12:00:00 AM PST
Toyota agreed to pay a record $32.4 million in extra fines to the U.S. government in connection with the company's recall crisis.The government said the civil penalties will settle investigations into how Toyota dealt with massive recalls over sudden-acceleration problems and an issue with the loss of steering control.

The latest settlement, on top of a $16.4 million fine Toyota paid earlier in a related investigation, brings the total penalties levied on the company to $48.8 million. It caps a difficult year for the world's No. 1 automaker, which recalled more than 11 million vehicles globally since the fall of 2009 as it scrambled to protect its reputation for safety and reliability.

Toyota will be making the payment without admitting to any violation of U.S. laws.

The Associated Press contributed to this story.