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Toyota has reached a potential settlement of more than $150 million to resolve class action lawsuits in the United States related to the recalls of approximately 3.36 million Toyota and Lexus vehicles.
The settlement concerns owners and renters of a large number of Toyota and Lexus vehicles produced between 2013 and 2020. These vehicles are equipped with a Denso low pressure fuel pump which can cause vehicles to run rough and eventually lose engine power and stall. Toyota recalled more than 5.8 million vehicles worldwide in 2020 and 2021 due to the defect.
Read more: Toyota and Lexus recall 5.84 million vehicles worldwide over fuel pump problem
This preliminary settlement has been filed in federal court in Brooklyn, but still requires a judge’s approval.
If approved, the settlement requires Toyota to extend the warranty for the fuel pumps to 15 years or 150,000 miles. Drivers also get a free loaner vehicle and free towing options for repairs. In addition, owners can charge for any previous repairs, including the cost of loaner cars and towing.
“We are pleased to have resolved this lawsuit in a way that demonstrates our commitment to providing customers with a great ownership experience,” confirms Toyota.
Reuters notes that law firms representing the plaintiffs can request up to $28.5 million in legal fees to reach a settlement.
“The settlement value is still being analyzed by experts, but based on the initial analysis, we fully expect the settlement value to exceed $150 million,” added Dee Miles, a partner at Beasley Allen who has completed the settlement. represents the plaintiffs.
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