Toyota Recalls Scion IQ Models and 1 Auto Stock Making Headlines Now
Toyota Motor Corporation (NYSE:TM): According to United States regulators, Toyota Motor North America Inc. will recall 11,153 Scion IQ vehicles due to problems with a cable that is located under the passenger seat. The National Highway Traffic Safety Administration said model year 2012-13 Scion IQs made between July 31, 2011 and Oct. 12, 2012 were being recalled as the cable for the Occupant Classification System could become damaged when sliding the passenger seat forward or backward. Should this occur, the vehicle’s passenger side air bag could fail to deploy in an accident.
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A123 Systems, Inc. (NASDAQ:AONE): According to the Wall Street journal, Wanxiang America Corp., the Chinese-owned auto parts firm that wants to purchase assets of A123 Systems, Inc. (OTC:AONEQ) in bankruptcy court, said they would use A123′s United States workers and plants if their bid is accepted.
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