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Based on fundamental study about the toughness of hot rolled microalloyed steels, a new steel composed of 0.4 % carbon, 1.10 % manganese, 0.5 % chromium and 0.15 % vanadium was developed. The steel shows high toughness and high proof stress after well-controlled hot rolling. The newly designed steering racks for passenger cars using the steel bar have properties equivalent to the racks of conventional quenched and tempered carbon steels.