Toyota plans to resume U.S. sales in three weeks

Toyota Motor Corp plans to resume sales of eight recalled models including the top-selling Camry as soon as the third week of February, said three sources briefed on plans by the world's largest automaker.

Toyota expects to begin repairing or replacing flawed accelerator pedals on 2.4 million vehicles as early as next week, said the sources, who declined to be named because the Toyota has not made its still-developing plans public.

If all goes smoothly, Toyota could limit losses to a four-week sales shutdown after a recall that has rocked its reputation in its largest market.

Even that target is ambitious because of the massive number of vehicles involved and the need to conclude a review by U.S. safety regulators, the briefed sources said.

Toyota declined to comment on the timing of the sales resumption.

Toyota shares have lost 15 percent since the recall was announced on January 21. Shares were down less than 1 percent in trading in New York on Friday at $77.21.

The remedy being readied by Toyota and its supplier CTS Corp involves a shim, also called a spacer, that will be placed in the accelerator to keep it from sticking, sources said. Toyota expects to finalize this remedy with the National Highway Traffic Safety Administration early next week, the sources said.

Analysts have estimated that the sales halt announced by Toyota this week could cost the automaker at least $550 million in operating profit a month.

Toyota this week took the unprecedented step of suspending sales of eight models involved in a safety recall of 2.3 million vehicles for the sticky accelerator problem in the United States.

Another 100,000 to 120,000 of the eight models are on dealer lots or in transit to dealers, sources said.

In addition to suspending sales, Toyota has said it will shut production of the eight recalled models at six U.S. and Canadian factories for at least next week.

A separate recall targets floor mats becoming stuck under accelerators in a wider range of Toyota and Lexus vehicles. In all, Toyota has recalled about 5.6 million vehicles in the United States.

Toyota spokesman Brian Lyons said the automaker has not determined when it can resume production.