Toyota seen readying global Prius recall

A Toyota spokeswoman said the company was still discussing plans with safety authorities in the United States and Japan. The new Prius model is sold in some 60 countries.

The Sai sedan is the second hybrid-only model under the Toyota brand, and the HS250h is the automaker's first dedicated hybrid model under the Lexus brand.

As of the end of December, Toyota sold 15,500 HS250h cars globally since its release in July. Sales of Sai, a Japan-only model released in December, came to 3,800 units in the first month, Toyota said.

U.S. competitor Ford Motor Co said last week it was fixing up to 17,600 hybrid sedans for similar braking problems.

Toyota shares fared better on Monday than other Japanese auto stocks, which were hit by a stronger yen. The stock fell 1.1 percent, compared with a 2.1 percent drop in Honda Motor shares and a 2.6 percent loss in Nissan Motor. The broader Tokyo market fell 1 percent.

On Friday, Toyota's U.S.-listed shares jumped 4 percent following the news conference by the President Toyoda.

The stock has lost more than a fifth of its value since the world's biggest automaker expanded a recall related to unintended acceleration to millions of vehicles globally.

LAWSUITS GROW

In addition to the cost of repairing the vehicles, Toyota faces a rise in indirect spending, including from a likely rise in lawsuits.

At least 30 class-action lawsuits have been filed against the Japanese automaker in the United States, as law firms across the nation call out to consumers to capitalise on Toyota's vehicle defects.