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Lexus models to be recalled


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POSTED: Thursday, May 20, 2010

Toyota Motor Corp., the world's largest carmaker, is preparing to recall 11,500 Lexus vehicles worldwide for problems related to steering.

The company, based in Toyota City, Japan, plans to recall 7,000 vehicles overseas, including 3,800 in the U.S., and 4,500 units in Japan, said Toyota spokeswoman Mieko Iwasaki. On Tuesday, Toyota said that only 4,500 vehicles in Japan were being recalled but acknowledged that 7,000 others globally also were affected.

Toyota is recalling four Lexus models, the LS 460, LS 460 L, LS 600h and LS 600h L.

In Japan, customers have complained about wheels not returning to original positions fast enough after making turns, Iwasaki said.

» Chrysler Group LLC is teaming up with a unit of Spain's Banco Santander to offer cheaper financing to customers who don't qualify for prime loans. Chrysler spokesman Ralph Kisiel says interest rates on subprime loans from Santander Consumer USA Inc. will be about 30 percent cheaper than from other lenders. Kisiel says subprime customers will also be able to get loans from Chrysler's primary lender, Ally Financial.