Transportation Secretary LaHood: STOP DRIVING YOUR TOYOTA NOW

AP Ray LaHood

Update: LaHood is now saying, according to CNBC, that if you have a Toyota, you should stop driving it NOW!

The stock is off 5% in early trading.

Original post: Toyota Motor Corp.’s accelerator pedal problem is getting stickier by the day.

On Tuesday, U.S. regulators accused the company of not reacting quick enough to fix defective gas pedals and threatened civil penalties, reports.

Secretary of Transportation Ray LaHood said in a statement, ‘We’re not finished with Toyota and are continuing to review possible defects and monitor the implementation of the recalls.”

Another DOT official stated that the agency is considering a civil penalty against Toyota. If manufacturers don’t issue a timely recall of defective vehicles, they can face a penalty of up to $16.4 million.

Adding insult to injury, Toyota reported on Wednesday dozens of new complaints in North America and Japan about brake failure on the new Prius model, the AFP reports.

One analyst at Mizuno Credit Advisory said that if the new Prius model turns out to have a serious problem, it will have a “strong impact on Toyota’s performance,” as hybrid cars, are “almost the only cars selling well in Japan and the US.”

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