The US Transportation Department has slapped Japanese automaker Toyota Motor Corp. with a penalty of $16.4 million for delaying in informing the US authorities about the gas pedal defects found in the company’s cars, the department said in a statement on Monday.

Though the amount stood as that the largest civil fine ever levied by US auto safety regulators, many believe that the fine won’t hurt the automaker much as it’s cash on hand alone amounts to nearly $25 billion to $30 billion.

As per reports, the company, despite having knowledge that the gas pedal in eight of its models could stuck suddenly, delayed nearly four months before informing the safety regulators. US federal law allows five days to the automakers to inform any discrepancy that they know about the safety measures.

Transportation Secretary Ray LaHood said that the regulators were in possession of certain proof that indicated Toyota’s failure to stick to the legal obligations. Moreover, Toyota knowingly concealed material facts from the officials jeopardizing millions of lives of drivers and their families.

Toyota now has two weeks time to either accept the decision or appeal against it.