Toyota announces 2.77 million vehicle recall

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Toyota Motor Corporation (NYSE: TM) (LSE: TYT) (TYO: 7203), a Japan-based automaker, is recalling 2.77 million vehicles globally.

The automaker is recalling the vehicles because of problems with water pumps or steering problems.

The recalled models include vehicles manufactured between August 2000 and December 2011, including its popular Prius hybrid. Of the 2.77 million models due for recall, 1.5 million were sold in Japan, with many other affected models sold in the US and Europe.

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