02/01/2010-According to The Wall Street Journal, Toyota Motor Corp. (NYSE:TM) said Monday that it has begun shipping a part that will fix the gas pedal problem that caused the company to stop selling eight of its models in the U.S. and some other countries and forced a recall of millions of vehicles.
In addition, Toyota said in a statement that its dealers will stay open extended hours in order to repair customers' vehicles as quickly as possible.
Jim Lentz, president and COO of Toyota's U.S. sales arm, commented, "We deeply regret the concern that our recalls have caused for our customers and we are doing everything we can - as fast as we can - to make things right. Stopping production is never an easy decision, but we are 100% confident it was the right decision. We know what's causing the sticking accelerator pedals, and we know what we have to do to fix it. We also know it is most important to fix this problem in the cars on the road."
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Disclosure: TM in a SmarTrend DOWNTREND as of 1/26/10