Toyota Fined Over Failure to Promptly Report Safety Issues

Given the maximum penalty of $17.4 million

Toyota has been fined $17.4m (£10.7m)—the maximum allowed under US law—for taking too long to report safety issues to authorities.

It is the fourth time in the past three years that the Japanese car giant has been fined in the US, after paying out almost $50m in total during 2010 over its handling of car recalls.