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Toyota shares plunge over global car recall

Thursday 4th February 2010

By Mike Jones

Fears about the safety of some of Toyota's cars have seen the company's shares fall heavily on the Tokyo Stock Exchange.

Toyota's shares have lost about 22% of their value since 21 January and are now at their lowest level for 10 months.

Some eight million cars have been recalled globally because of problems with defective accelerator pedals on seven models.

It is also understood to be investigating reports of faulty brakes on the Prius hybrid car.

The cost of the recall could be as much as £1.3billion.

Toyota is the world's biggest car maker.

Its shares fell 5.7% on Wednesday before sliding another 3.5% this morning.

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