By KELLY OLSEN
AP Business Writer
TOKYO – Toyota is close to recalling as many as 300,000 of its popular Prius hybrids over brake problems, according to Japanese media – a decision that would further embarrass a trusted brand suddenly beset by safety problems.
The company may have no choice: A week has passed since the problems emerged, and analysts say further delays could be devastating to the automaker’s already damaged reputation in a global market it fought for decades to dominate.
“Listening to management now, I think they still think there isn’t a real problem with the Prius,” Christopher Richter, auto analyst at CLSA Asia Pacific Markets, said Monday.