Hyperdrive
Toyota Shares Slump on Daihatsu Raid, US Million-Car Recall
- Daihatsu offices raided by officials over false safety tests
- Toyota recalls vehicles in US for air bag sensor glitch
Toyota Motor Corp. shares slumped the most in 18 months, after subsidiary Daihatsu Motor Co.’s offices were raided over a safety scandal and the automaker recalled 1 million cars in the US.
The world’s biggest carmaker fell as much as 5.6% in early trading Thursday, the biggest intraday decline since May 2022. The stock recovered a bit and was trading down about 3% in the morning in Tokyo.