Toyota is set today to sign an agreement with the US government to pay a record $16.375 million fine. The NHTSA fined Toyota for failing to notify it of a sticking accelerator defect within five days of becoming aware of the problem.

It is the maximum fine allowed by law for a single violation.

Paying the fine will not release Toyota from any criminal or civil liability caused by the defect and does not preclude additional fines related to other recall issues.

Toyota failed to report the defect for at least 4 months after becoming aware of the problem, according to documents obtained by the government.

Once Toyota signs the paperwork, it will have 30 days to pay the fine.

This entry was posted on Monday, April 19th, 2010 at 5:23 am and is filed under Cars, Financial, Recalls, Safety, Toyoland, Toyota. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.