For the 750,000 2003 and 2004 Corolla models recalled, Toyota states that airbag electronic control modules may be susceptible to internal shorting that could cause the airbag to inadvertently deploy without warning. Seat belt pretensioners could engage as a result of the same issue.
The automaker is also recalling around 270,000 Lexus IS cars from model years 2006 through early 2012. The issue for these vehicles stems from a potentially loose wiper arm nut. If snow or other objects build up on the front windshield, one or both wipers could become inoperable.
Owners will receive a notification letter and free repairs at any authorized Toyota or Lexus dealer. To check your vehicle's status, click here.
The Japanese automaker has been wracked with recalls over the past few years, and has also been heavily fined for not always issuing timely recalls.
As of this writing, Toyota shares seem unaffected and are up 0.25% for today.
The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.