The U.S. Department of Transportation has hit Toyota with a $16.4 million fine, for failing to promply disclose the issue of sticking accelerator pedals in certain Toyota vehicles. Under federal law, auto manufacturers have five business days to notify the D.O.T. of issues impacting vehicle safety; documents prove that Toyota knew about the sticking pedal issue four months in advance of their D.O.T. notification.
The previous record fine assessed was a $3 million penalty given to GM for failure to promptly disclose problems related to windshield wiper assemblies. GM negotiated a lower penalty and ultimately paid a $1 million fine for this incident.