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Toyota to recall 185k cars globally, including Yaris

Toyota has announced it is recalling a total of 185,000 vehicles worldwide for a power steering issue. Yaris and (overseas) Vitz models built between November 2010 and March 2012 could suffer a short circuit in their power steering control module if water gets inside. Should that happen, the power steering could fail, increasing effort when turning. The recall also includes the Verso-S and Ractis built from August 2010 to August 2011. The recall covers 130,000 vehicles in Japan and around 22,450 in Europe.
Only 74 units are being recalled in the United States.
Toyota says if the fault occurs, the vehicle will display the Electronic Power Steering warning light on the dash and a buzzer will sound. The automaker will alert owners by mail and dealers will replace the power steering control module free of charge. You can read the quick press release on the recall below for more information.

Toyota nears $40B cash reserve as calls grow for new investment, payouts

With the April 15 tax deadline just a few months away, our US readers will be faced with a decision should they get a refund: save or spend? It seems this issue is one many of us face whenever there's a windfall, trying to decide whether we should set the money aside in an account of some sort or use it as a down payment on a new car or a trip to the Apple store. Unsurprisingly, major corporations face a similar, albeit more complex, issue.
Take Toyota, for example. With President Akio Toyoda at the helm, the Japanese manufacturer has gracefully weathered recalls and natural disasters, all while turning beaucoup profits. Last quarter, profits quintupled to 434.4-billion yen ($4.3-billion USD), according to Bloomberg. Toyota also upped its forecast for the end of fiscal year 2013 (which ends on March 31 for Japan), to a record 1.9-trillion yen (about $18.8 billion). Now, the Japanese brand is reportedly sitting on a cash pile of nearly $40 billion, leaving Toyoda-san in an envious predicament - what should the company do with all that money?
Some think Toyota should be doing something, anything with that big stack of cash.

PSA: Toyota wants to save your life, needs an hour of your time

Toyota wrote Autoblog to ask if we could spread the word about the Takata airbag inflator recall. Defective inflators remain installed in tens of millions of cars made by 19 carmakers, with manufacture dates that go back to the year 2000. Each inflator compounds the risk of serious injury or death in an airbag-activating crash. With a new ad campaign called "in about an hour," Toyota wants to make sure that unaware owners, or overly busy owners, know they can get their Toyota, Lexus, and Scion vehicles repaired free of charge in about the time it takes to do a load of laundry. The campaign focuses on cities in three so-called Zone A states where hot, humid climates worsen the threat of the ruptured inflators: Los Angeles, Dallas, and Miami. However, every owner everywhere who cares about his life, or his child's life, should at least check to see if his car is affected. All it takes is a quick VIN entry at the dedicated recall site at Toyota.com/Recall. The results will let you know if your car is affected and, if so, locate a local dealer for the free fix. The National Highway Transportation Safety Administration said the Takata affair has become "the largest and most complex safety recall in U.S. history." The numbers so far suggest the recall covers more than 42 million vehicles and more than 60 million airbags. Autoweek keeps an updated list of Takata information, including every make and model on the recall list. Consumer Reports published a list of frequently asked questions covering issues directly related and tangential to the recall. The 19 automakers maintain pages dedicated to the issue; Fiat Chrysler lists every relevant model and how it prioritizes repairs by Zone, Honda says it offers a free rental car while owner cars are repaired, Daimler vans says its fix only takes about an hour. And of course NHTSA serves all owners with its own VIN lookup site. We encourage you to check your vehicle — the life you save could be your own. Related Video: