As rumored on Friday, Toyota Motor (TM) is expected to expand its recall in the U.S. of risky vehicles to include its Prius hybrid, according to a Dow Jones Newswire report this morning, citing Japan’s Kyodo news.
Toyota shares this morning are off by $1.49, or almost 2%, at $73.22.
The move could come in Japan first, as early as tomorrow, and shortly after in the U.S. and could affect more than 270,000 vehicles between the two countries. , according to the report. The recall is reportedly prompted by issues of defective software for the Prius’s break system.
Meantime, The Journal today carries an interview with Honda Motor’s (HMC) CFO Yoichi Hojo in which he warns the problems at Toyota could dent consumers’ faith in the quality of vehicles and safety issues broadly. Honda is planning to step up its auto incentives to try and take advantage of the situation.
Honda shares are down 53 cents, or 1.5%, at $33.96.
Ford (F) shares are up 22 cents, or 2%, at $11.13.
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