Toyota (TM) Investors Buy-In as Electronics Weren't Cause of Unintended Acceleration
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Toyota (NYSE: TM) shares gained back some momentum that was sputtering midday today, as a release from the National Highway Traffic Safety Administration (NHTSA) said that, following extensive testing performed by NASA engineers, "no electronic flaws in Toyota vehicles capable of producing the large throttle openings required to create dangerous high-speed unintended acceleration incidents."
Shares are back up late in the trading day, now about 4.3% better.
The report continues that "...two mechanical safety defects identified by NHTSA more than a year ago – “sticking” accelerator pedals and a design flaw that enabled accelerator pedals to become trapped by floor mats – remain the only known causes for these kinds of unsafe unintended acceleration incidents."
Shares are back up late in the trading day, now about 4.3% better.
The report continues that "...two mechanical safety defects identified by NHTSA more than a year ago – “sticking” accelerator pedals and a design flaw that enabled accelerator pedals to become trapped by floor mats – remain the only known causes for these kinds of unsafe unintended acceleration incidents."
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