In case you are reading TTAC before watching the “Today Show,” turn it on. According to the Wall Street Journal, “Jim Lentz, the executive in charge of Toyota’s U.S. sales arm, is scheduled to appear on NBC’s “Today Show” Monday morning, a Toyota spokesman confirmed. Mr. Lentz is expected to lay out a timetable for shipping repair parts to dealers, as well as for resuming sales of the eight models whose sales were suspended last week and for restarting production and shipment of new vehicles that are free of the gas-pedal problems, according to people briefed on the plans.”
And here is today’s media schedule according to the Nikkei [sub]:
Toyota will release a statement at 6:30 a.m. EST Monday followed by the distribution of a video (shown here,) the company said in a media advisory.
At 11:00 a.m. Monday, Toyota will hold a media conference call.
Dealers briefed on the plan confirmed to the Nikkei that the fix for the 2.3m vehicles recalled in January is the metal shim that will be inserted into the pedal. The WSJ says that Toyota has told dealers that it can produce as many as 120,000 of the shims a day.
Repairs for 5.4 million Toyota and Lexus vehicles that were recalled late last year over concerns that the floor mats could entrap the gas pedal will include trimming the gas pedal, modifying the floor pan and installing a new braking system to ensure the brakes override the accelerator when both pedals are depressed, says the Nikkei.
The Wall Street Journal figures the recall could cost Toyota around $1b, say the cost could “be much larger unless the world’s largest car maker acts swiftly to contain the fallout.”