Toyota President Akio Toyoda apologized for the recall of millions of vehicles around the globe because of faulty accelerator pedals and added that huge recalls have stained company’s image.

In an interview with public broadcaster NHK in Davos, Switzerland, Akio Toyoda said, “I am deeply sorry that we’re giving cause for concern to customers.”

Last week, Toyota announced that it would recall around 2.3 million vehicles in the US to fix defective accelerator pedals.

Recently, the auto giant also pulled as many as 1.8 million vehicles in Europe over safety concerns.

Earlier last year, the company recalled about 5.3 million cars in the US to replace floor mats that could trap accelerator pedals.

Toyota also announced that it would widen its safety recall of vehicles to Europe and China.

Recent recalls have hit Toyota’s market value hard. Shares in Toyota slipped 2 per cent in Tokyo yesterday to 3,490 yen-a-share.