Toyota, World's Largest Automaker, Hit by Massive Recalls and Faked Data Scandal

Toyota, the world's largest automaker, is facing multiple challenges as it recalls over a million vehicles in the U.S. due to airbag problems and its subsidiary, Daihatsu, reveals faked data dating back to 1989. Daihatsu admitted to rigging safety tests and an independent investigation found 174 safety irregularities in 64 models, including those delivered to Toyota, Mazda, and Subaru. The report blamed tight development schedules for the falsified test results and manipulated data. Toyota has halted worldwide shipments from Daihatsu and promised to revitalize the subsidiary. Additionally, Toyota's other subsidiary, Hino Motors, admitted to falsifying emissions data last year. Toyota shares fell 4% following the news.