Toyota Motor Corp. (NYSE ADR: TM) added another set of recalls yesterday (Thursday) to its rocky year.
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Toyota announced it needed to repair 1.66 million autos worldwide for brake-fluid leak issues. The newest development brings the total number of Toyota vehicles recalled worldwide in the past year to about 14 million.
The company said it needed to fix rubber seals on about 740,000 vehicles in the United States and 599,000 in Japan, as well as some models in European markets, including Avalon and Lexus sedans and Highlander sport-utility vehicles. A small amount of brake fluid was able to leak from the master cylinder and gradually reduce braking performance and cause a "spongy" feeling in the brakes, according to a company spokesman. Cars affected have had factory-filled brake fluid replaced with brake fluid that is not "genuine" factory fluid.