A 2010 Toyota Corolla
A 2010 Toyota Corolla - 
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Marketplace

TEXT OF INTERVIEW

Bill Radke: Can it get any worse at Toyota? The company said this morning it might issue a recall of the world's best-selling car, the Corolla, for power steering problems. We're joined now by Marketplace's Jeremy Hobson live from New York. Jeremy, what is Toyota saying about this?

Jeremy Hobson: Well this came out of this news conference overnight in Tokyo The head of quality controls at Toyota said there have been a number of complaints in the U.S., people saying like they feel like they're losing control over steering in Corolla, and Toyota thinks this could be due to problems with the braking system or with the tires. It says it's taking the complaints seriously, is considering a recall, but it hasn't decided yet on whether one will be necessary.

Radke: And Jeremy, at this news conference, did the company address the infamous accelerator problems?

Hobson: It did, and on that front, it says it's going to install a brake override system on all Toyota vehicles going forward -- which means that if you put your foot on the brake and the gas at the same time, the brake will win that argument and the car will come to a stop. One other thing, Bill: Toyota's president, Akio Toyoda, says he's not planning to go to Washington to attend congressional hearings. There was some thought that he might to talk about the gas issue; he's going to leave that to the company's U.S. executives instead.

Radke: OK, Marketplace's Jeremy Hobson in New York, thanks a lot.

Hobson: Thanks.

Follow Jeremy Hobson at @jeremyhobson