Toyota fined record $17.4M

The U.S. government has hit Toyota Motor Corp. with a record $17.4-million fine for failing once again to quickly report problems to federal regulators and for delaying a safety recall.

The fine against the world’s biggest automaker from the National Highway Traffic Safety Administration, the agency that monitors vehicle safety, is the maximum allowed by U.S. law.

About 154,000 of the 2010 Lexus Rx 350s and RX 450h models were recalled because the driver’s-side floor mats can trap the gas pedal and cause the vehicles to speed up without warning.

“We agreed to this settlement in order to avoid a time-consuming dispute and to focus fully on our shared commitment with NHTSA to keep drivers safe,” Ray Tanguay, the company’s chief quality officer, said in a statement.