Toyota Makes $1.2 Billion in First Quarter Despite Recall Problems

Toyota returned to profit in the fourth quarter despite the Japanese carmaker's recall problems being at their height.

In the three months to the end of March, Toyota made profits of 112bn yen ($1.2bn; £810m) a rebound from a 766bn yen loss for the period in 2009. Toyota was hit by a string of recalls, but cut its prices to keep buyers going into showrooms, BBC News says.

On Monday, the U.S. National Highway Traffic Safety Administration said it is carrying out a new investigation into Toyota to see whether it had stalled on a recall for a steering defect in 2005 in the U.S. It had carried out recalls for similar problems in Japan in 2004.

Toyota has already paid a maximum fine of $16.4 million for dallying on a recall for acceleration problems, and NHTSA could slap it with a fine of up to that amount again over the steering issue, The Associated Press informs.

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