Toyota agreed to pay the penalty by March 25 through a parallel civil action filed today in U.S. District Court for the Southern District of New York.
The recalls blemished Toyota’s reputation for quality that spurred its rise to become the world’s top-selling automaker, a title it relinquished for one year to GM.
Toyota recalled more than 10 million vehicles worldwide in 2009 and 2010 for unintended acceleration issues. The company made modifications to gas pedals and floor mats that were prone to shifting around and jamming the accelerator. Toyota also installed brake override software on recalled models and began making the systems standard on new vehicles.
Toyota has also paid more than $66 million in civil penalties to the National Highway Traffic Safety Administration for not recalling the affected vehicles in a timely manner.
Gabe Nelson, Philip Nussel and Bloomberg contributed to this report.