Barron's Roundtable panelists discuss Toyota's stock hitting an all-time high this week and how a slowdown in EVs could impact Ford and General Motors.
Toyota is recalling more than 43,000 Sequoia hybrid SUVs because of a tow hitch cover that could come off.
Toyota said that if the tow hitch cover detaches from the rear bumper while a recalled vehicle is being driven, “it could become a hazard on the road and increase the risk of a crash.”
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The recall affects 2023-2024 model years, according to the automaker and the National Highway Traffic Safety Administration (NHTSA).
A close-up of the logo sign on the building facade of automaker Toyota's San Francisco regional headquarters in Bishop Ranch Office Park on October 20, 2017 in San Ramon, California. (Photo by Smith Collection/Gado/Getty Images/Getty Images)
“The affected vehicles are equipped with a plastic tow hitch cover that is secured to the rear bumper with molded clips,” Toyota said in a statement. Recall Reporting Filed with NHTSA: “The design of the mounting structure between the tow hitch cover and the bumper may result in insufficient retention of the cover.”
To fix the tow hitch cover issue, the company said owners will need to take their Sequoia Hybrid to a dealer where a dealer will install a new replacement cover free of charge. In conjunction with this, the rear bumper will also be modified.
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Toyota said it was recalling about 1,900 2023-2024 Sequoia Hybrids outside the U.S. that may face a similar issue.
