Shares of Toyota Motor (TM) are regaining some ground after U.S. Department of Transportation secretary Ray LaHood this afternoon clarified statements made during a House of Representatives Appropriations Committee hearing this morning that some interpreted as telling U.S. consumers not to drive their Toyota vehicles.
LaHood, speaking to reporters at the hearing after his appearance, remarked, “What I said in there, or what I thought I said was, ‘if you own one of these cars, or if you’re in doubt, take it to the dealer,” Reuters reports.
Toyota stock is now down $4.20, or 5.4%, at $73.98 after falling as low as $71.90 today.
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