Toyota to recall luxury cars over engine problems

By Peter Valdes-Dapena, senior writer


NEW YORK (CNNMoney.com) -- Toyota Motor Co. plans to start recalling luxury vehicles possibly affected by engine problems on Monday.

Toyota will submit documents to recall of 90,000 vehicles in Japan on Monday, company spokesman Mieko Iwasaki told CNN. Recall announcements in other regions will subsequently be handled by each country individually.

On Thursday, Toyota said it was investigating engine problems affecting 270,000 vehicles worldwide. Small valve springs that were made from low-quality metal could crack, potentially causing engines to stall, said Toyota spokesman Paul Nolasco.

In most cases, owners will experience only abnormal idling or engine noise, Toyota said in a written statement, although even that was described as a "remote possibility."

Approximately 137,000 vehicles in the U.S. are potentially affected, the automaker said. The cars sold in the U.S. that could be affected include the Lexus IS 350, GS 350, GS 460, GS 450h, LS 460, LS 600hL. All are luxury sedans and two, the GS 450h and LS 600hL, are hybrid cars.

Only cars from model years earlier than 2010 could be involved, Toyota said.

Also involved is the Toyota Crown, a large luxury car that is not sold in the United States.

Toyota has not received any reports of injuries or fatalities related to the issue, the automaker said.

Toyota's Lexus luxury division will announce a remedy for the problem as soon as possible, the automaker said in its statement.

"In the meantime, we sincerely apologize to our customers for any inconvenience and request that they contact their nearest Lexus dealer if they believe there is a problem with their vehicle," said Mark Templin, general manager for Lexus in the U.S.

Toyota has been dealing with a long-running spate of quality and safety problems.

Toyota has, in recent months, recalled more than 8 million vehicles worldwide for a variety of potential safety issues including possible unintended acceleration and problems with anti-lock brake software.

Most recently, the automaker recalled some Lexus SUVs because of problems with electronic stability control software.

In a recent J.D. Power survey of initial quality, Toyota slipped to 21st place this year from 6th place last year.

CNN's Yoko Wakatsuki and CNNMoney.com senior writer Chris Isidore contributed to this report. To top of page

Frontline troops push for solar energy
The U.S. Marines are testing renewable energy technologies like solar to reduce costs and casualties associated with fossil fuels. Play
25 Best Places to find rich singles
Looking for Mr. or Ms. Moneybags? Hunt down the perfect mate in these wealthy cities, which are brimming with unattached professionals. More
Fun festivals: Twins to mustard to pirates!
You'll see double in Twinsburg, Ohio, and Ketchup lovers should beware in Middleton, WI. Here's some of the best and strangest town festivals. Play
Find Your Next Car
Index Last Change % Change
Dow 17,801.36 -8.70 -0.05%
Nasdaq 4,744.20 31.23 0.66%
S&P 500 2,067.25 3.75 0.18%
Treasuries 2.32 0.01 0.26%
Data as of 12:52pm ET
Company Price Change % Change
Bank of America Corp... 17.13 0.01 0.06%
AT&T Inc 34.68 -0.60 -1.71%
Apple Inc 118.04 1.57 1.35%
Intel Corp 36.34 0.75 2.11%
Microsoft Corp 47.80 -0.17 -0.36%
Data as of 12:37pm ET

Sections

Digital Ally makes cameras that police officers can wear. They may get used more in the wake of Ferguson. But this is an incredibly risky stock. More

Russia's finance minister warned Monday that his country is losing up to $140 billion per year because of falling oil prices and sanctions with Western nations. More

Obama doesn't have the authority to create a startup visa, but part of his reform announcement could include a workaround for entrepreneurs: 'parole status.' More

Nearly half of all Americans say there's a chance they'll have to work during a holiday between Thanksgiving and New Year's, according to a new poll. And one in four say they'll have to work whether they want to or not. More

Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer.

Morningstar: © 2014 Morningstar, Inc. All Rights Reserved.

Factset: FactSet Research Systems Inc. 2014. All rights reserved.

Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved.

Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor’s Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2014 and/or its affiliates.