Transportation

Regulators Raid Toyota Offices Over Safety Scandal, Sending Stock Down

Transport ministry to conduct on-site raids of carmakers
Carmakers, suppliers probed after scandals at Toyota units

WATCH: Japan has suspended the delivery and sales of six vehicles — including three manufactured by Toyota Motor. Reed Stevenson reports.Source: Bloomberg

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By Nicholas Takahashi

June 4, 2024 at 12:16 AM UTC

Updated on

June 4, 2024 at 3:17 AM UTC

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Toyota Motor Corp. and other carmakers embroiled in a fresh certification scandal halted shipments of a handful of models and saw their offices raided by government officials, but the impact on their customers and operations appears to be limited.

Honda Motor Co. shares fell 2.4% while Toyota dipped 1.1% in morning trading in Tokyo Tuesday, after disclosing that they falsified safety certification tests. Toyota submitted faulty data during pedestrian-safety tests for three current models — the Corolla Fielder, Corolla Axio and Yaris Cross — the transport ministry said Monday.