Toyota Motor Corp. and Nissan Motor Co. have sold off more than 1.7 million cars, leaving the automaker with 1.25 million vehicles in China, a new filing with the Securities and Exchange Commission shows.
The filing was made public Tuesday as part of a separate probe into Toyota’s role in China’s “mega auto crash.”
Toyota and the two companies have agreed to pay $4.8 billion in fines and penalties.
The company also agreed to buy back a majority stake in its China carmaker.
Toyota and Honda Motor Co., the country’s largest carmaker, said in October they would buy back an undisclosed amount of their vehicles.
The SEC filed its probe into the company after Toyota and its former CEO Akio Toyoda were found to have been responsible for a major crash in 2014 in which three of the company’s Toyota Corollas collided with a tractor-trailer, killing 11 people and injuring more than 300 others.
Toyota has agreed to purchase a majority of the 2.2 billion-yuan ($2.7 billion) remaining shares of the two automakers, which had been valued at $12 billion in March.
The $4 billion in penalties will be split between the companies.
Toyota said in November it would sell back all its remaining shares.
Nissan said it would buy Toyota and Toyota’s joint venture.
The two companies said they will pay $1.9 billion for the sale of the 1.2 million cars and $1 billion for each of the remaining 1.75 million cars.
Nissan has agreed not to buy any of Toyota’s vehicles.