U.S. Transportation Secretary Ray LaHood Retracts Toyota Statement
Earlier today U.S. Transportation Secretary Ray LaHood advised consumers to stop driving Toyota vehicles until they had been repaired. LaHood retracted his advice an hour later. The Detroit Free Pressreports that an hour later - after Toyota's stock plunged 5% - LaHood retracted his comments.
The Japanese automaker found itself in a whirlwind of attention again today when U.S. Transportation Secretary Ray LaHood told a House committee that Toyota owners should stop driving their vehicles until they were fixed.
The statement, an unprecedented one from a U.S. cabinet member, set off a fury of reports and pushed down Toyota's shares by 5%. But about an hour later, LaHood walked backed his comments, saying he "obviously misspoke."
"My advice to a person that owns a Toyota is to take it to a dealership," LaHood told reporters after the hearing.
LaHood has also said that it took an enormous effort to get Toyota to agree to a recall and has called the automaker "a little safety deaf."
Earlier today U.S. Transportation Secretary Ray LaHood advised consumers to stop driving Toyota vehicles until they had been repaired. LaHood retracted his advice an hour later. The Detroit Free Press 
