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Toyota expands airbag recall to 2.27M vehicles worldwide

Was your Toyota inspected under the company's recall campaign for faulty airbag inflators last year? You might have another trip ahead to have it repaired again. The automotive giant says that it found "the involved serial numbers provided by the supplier were incomplete, and did not include all of the potentially involved inflators," according to its official announcement. That means more replacements are needed.
Toyota's April 2013 inflator recall covered the Corolla, Matrix and Tundra from the 2003 and 2004 model years, the Sequoia from 2002 to 2004 and the Lexus SC 430 from 2002 to 2004. At the time, the company said it would need to inspect about 510,000 vehicles in the US but only expected to replace around 170,000 inflators.
However, the latest announcement increases that figure to about 766,300 vehicles in the US. Toyota spokesperson Cindy Knight told Autoblog that the new amount is the combination of owners who need to have their vehicle looked at again and those who didn't come in for the initial recall. The company learned about the problem when Takata, the supplier, provided it with an improved list of the faulty part's serial numbers. According to The Detroit News, the latest recall affects about 2.27 million vehicles from them worldwide. Knight said owners would receive notification of the problem around the end of the month but repairs would come in phases because the automaker doesn't have all of the necessary parts at the moment.

Toyota plans biggest stock buyback in over a decade

At the end of December, 2013 Toyota had a cash stockpile of 1.8 trillion yen ($17.5B US). As of March 31, at the end of its current financial year, company coffers are expected to swallow another 1.9 trillion yen ($18.4B US) in net profit - said to be a record sum for the Japanese automaker. In a gesture signaling a turnaround from the horrors of the global recession, Bloomberg reports that Toyota will buy back 60 million shares of its stock, as much as 1.89 percent of the company, for something like 360 billion yen ($3.5B US). It's the first buyback since 2009 and the largest buyback since 2003, when it spent roughly 390 billion yen ($3.8B US) repurchasing shares.
Company president Akio Toyoda founded the Toyota Mobility Foundation (TMF), a non-profit that will support international groups working on transportation issues in emerging markets. Half of the stock that Toyota buys, 30 million shares, will be sold to the foundation via the Japanese Trustee Services Bank for one yen per share, the dividend providing the foundation's initial funding. The other 30 million shares will be canceled, a company spokesman telling Reuters that the company wants to reward shareholders.
Industry analysts have been asking Toyota to either return money to shareholders or invest in new factories, but Toyota has ruled out the latter. After getting burned with excess capacity when the financial crisis came, the company is focused on extracting efficiencies from the plants it already has. Toyota has said it plans to complete the buyback by June of this year.

Toyota recalling 1.67 million vehicles worldwide in 3 campaigns

Toyota is issuing three separate recalls covering 1.67 million vehicles worldwide with most of those models in Japan. It looks like the campaigns' impact on the US may be smaller, though. According to Reuters, Toyota isn't aware of any accidents, injuries or fatalities affecting the models. Some yet-unnamed Lexus models might also be affected.
The largest of the campaigns does not currently affect any US-market vehicles. About 802,000 units of the Toyota Crown Majesta, Crown, Noah and Voxy in Japan are being repaired to replace a seal that could leak in the brake master cylinder. Those already leaking get a new brake booster, as well, according to Reuters.
The only recall currently believed to affect the US is due to a problem covering approximately 759,000 vehicles with 423,000 of them here. The repair is to fix a faulty fuel delivery pipe that could cause a fire if the fuel leaks out. Unfortunately, we don't know which models it covers. Autoblog spoke to Toyota spokesperson Mona Richard and was told the information was still "under embargo." When exactly that embargo will lift isn't yet known, but we're on the case.