Japanese automaker, Toyota Motor Corporation announced a global recall of an estimated 340,000 units of the latest Prius hybrid model to fix the problem with its parking brake.

Based on a statement by Toyota, it says "there is a possibility the cable may disengage causing the parking brake to fail, and the car to roll away, if it's left in gear".

"To rectify this condition, parking brake cable clips will be installed on all impacted vehicles," said the official statement.

The recall includes models produced between August 2015 and October 2016, affecting at least 94,000 vehicles in North America and 210,000 vehicles in Japan.

Toyota claims that no accidents caused by the parking brake issue have been reported in Japan. However, reports regarding accidents that occurred overseas have yet to come in.