Actionable news
All posts from Actionable news

Will Toyota (TM) Stock Be Affected by 6.5 Million Vehicle Recall?

NEW YORK (TheStreet) --Toyota Motor Corp. (TM - Get Report) is recalling 6.5 million vehicles worldwide in order to repair a defective power window switch, which can overheat, melt and potentially start a fire, the Associated Press reports.

There has been a report of one injury in the U.S. as a result of this issue. The person was burned on the hand. Toyota has been notified of several incidents in North America, Japan and other areas in which part of the car door burned due to the problem with the switch.

The recall includes 2.7 million vehicles in North America, 1.2 million in Europe and 600,000 in Japan, AP added.

STOCKS TO BUY: TheStreet's Stocks Under $10 has identified a handful of stocks with serious upside potential. See them FREE for 14-days.

The problem with the window gear is the result of grease having been improperly sprayed during the manufacturing of electrical contact modules, AP noted.

Shares of Toyota are higher by 1.57% to $124.13 at the start of trading on Wednesday morning.

Separately, TheStreet Ratings team rates TOYOTA MOTOR CORP as a Buy with a...