Toyota Motor Corporation ADR (NYSE:TM) announced Wednesday that the auto maker is conducting a non-compliance safety recall involving certain 2023 model year Tundra and Tundra Hybrid vehicles in the United States. Approximately 21,780 vehicles are involved in this recall.
The problem stems from system errors, specifically in vehicles equipped with a Toyota Genuine spray-on bed liner accessory. These vehicles may have been provided with a load-carrying-capacity modification label that does not adhere to federal standards. When a vehicle exceeds its designated load-carrying capacity, it can potentially heighten the risk of an accident.
To address this issue, Toyota will take corrective action for all affected vehicles. Toyota dealerships will replace the non-compliant load carrying capacity modification label with an updated one, and owners will not incur any expenses for this service. Toyota aims to notify all impacted customers by mid-November 2023.
Shares of TM are up 1.32% near end of day trading Wednesday.