NEW YORK (CNNMoney.com) — Toyota Motor chief executive Akio Toyoda apologized Friday for the problems that led to the company’s recall of more than 8 million cars. But it did not announce another recall of its popular Prius Hybrid, despite reports of brake problems.
Toyoda, the grandson of the company’s founder, made his first public appearance in the two weeks that the company has faced a growing crisis over the safety and quality of its vehicles.
The recall affected 8.1 million vehicles worldwide and will cost the company an estimated $2 billion in repair costs and lost sales due to a sticking accelerator. Toyota has not said how much the new problems with the braking system in the Prius will cost it, though.