U.S. to Open Formal Probe of Corolla Steering Problems

Toyota's (TM) recall woes may be about to get even worse. In addition to the recall of 8 million cars with accelerator problems and brake issues on some versions of firm's Prius Hybrid, several media outlets have reported that the U.S. regulators are expected to begin a formal investigation of Corolla steering problems as early as Thursday. The probe will examine 2009 and 2010 versions of the model and will cover nearly 500,000 cars. The NHTSA has received 163 complaints about the steering issue, and Toyota may have to recall all of the vehicles to fix them.