The fine, the largest penalty ever assessed against an automaker, stems from Toyota's decision to withhold information on the potentially deadly ramifications of its defective gas pedals from federal authorities for over four months.
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In January, Toyota announced that it would recall more than 2.3 million vehicles, including popular models like the Camry and Corolla, to address problems with unwanted acceleration. In all, the company recalled more than eight million vehicles worldwide, according to the AP.
"When you look at the toll it's taken on Toyota's reputation, when you look at the number of vehicles involved, when you look at the hardship it's placed on Toyota's customer base, it's only right for Toyota to take this fine," Dennis Virag, president of Automotive Consulting Group, told the wire service.