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Toyota Faced Sanctions In The United States For Allegedly Deceiving Consumers Who Opted For Leasing Or Financing When Acquiring The Brand’s Vehicles. The Amount Of The Fine Imposed Was US$ 60 Million. The Penalty Was Imposed After The Company Was Accused Of Violating Consumer Protection Laws.
The US$ 60 million penalty That Toyota Will Have To Pay Due To Inappropriate Practices Of Its Financial Branch Will Be Distributed As Follows:
US$ 32 million Will Be Allocated To Consumers Who Were Not Reimbursed, US$ 9.9 million To Those Who Could Not Cancel Their Policies, US$ 6 million For Those Who Received False Information, And US$ 52,000 For Those Who Had Inaccurate Refunds.
The Remaining US$ 12 Million Must Be Deposited By The Japanese Car Manufacturer In A Fund Established To Assist The Victims Of The Inappropriate Practices Of The Agency Responsible For Leasing And Financing The Brand’s Cars.
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According To The Consumer Financial Protection Bureau, Employees Of The Company Added Various Services To The Contracts Of Customers Who Financed Toyota Cars Without The Knowledge Or Consent Of The Buyers. Moreover, They Made Errors In The Amounts Charged And Made It Difficult Or Impossible To Rescind The New Fees When Customers Became Aware Of Them.
Customer Reports Suggest That Toyota Established A Phone Line For All Desired Cancellations To Be Requested, But Allegedly Instructed Employees To Make The Task As Difficult As Possible And, When There Was No Escape, Instruct The Dissatisfied Customers To Make The Request In Writing And No Longer By Phone. These Questionable Practices Raised Concerns About The Company’s Conduct Regarding Consumer Rights.
Toyota Is Fined US$ 60 Million In The United States
The Automobile Manufacturer Toyota Received A Penalty Of US$ 60 Million From The Consumer Financial Protection Bureau, Which Performs Functions Similar To Those Of Procon In The United States, Due To Accusations Of “Deceiving Customers With Unnecessary And Hard-To-Cancel Products”.
The Fine Resulted From Issues Related To The Services Offered By The Toyota Motor Credit Corporation, A Financial Division Of The Company Responsible For Contracts For Leasing And Financing Of Cars Of The Brand In The United States, And Not Of Issues With The Cars Themselves.
The Toyota Was Condemned By The Consumer Financial Protection Bureau, An Agency In The United States With Functions Equivalent To Those Performed By Procon, To Pay A Fine Of US$ 60 Million For “Deceiving Customers With Unnecessary And Hard-To-Cancel Products.”
Source: Canal Tech
