Toyota estimated that it saved $100 million by negotiating with regulators for a limited recall of 2007 Toyota Camry and Lexus ES models for sudden acceleration, the same problem that has since prompted it to recall millions of cars, documents turned over to a Congressional committee showed Sunday.
The estimate was in a confidential presentation from July 2009 listing legislative and regulatory “wins” for the company.
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In the document, Toyota said it had “negotiated an equipment recall” without a finding of a defect, saving the company $100 million. Rather than be required to fix the cars, Toyota recalled 55,000 all-weather floor mats, sold as optional equipment, which it said could become lodged under the accelerator pedal.
It also said it had avoided an investigation into the Tacoma, a pickup whose undercarriage could be affected by rust. Toyota offered to repair or, in some cases, replace damaged Tacomas built from 1995 to 2004. Toyota also said it had saved millions of dollars by delaying federal safety rules affecting other models.
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