Yep Very common issue, One of our members found if you remove the knob, then take a can of CRC Electric Contact Cleaner
and liberally spray a bunch down the inside of the shaft (It's hollow),
Rotate the knob a bunch and spray, rotate the knob spray,
several times WHILE THE RADIO AND CAR ARE OFF,
then let it air out a few mins and dry,
then replace the knob and test
You should be good to go again...
I was almost on the verge of tossing the entire radio head unit out and purchasing a new one, until a fellow member told me this trick.
Worked like a charm, and my radio is as good as new again...
Hope that helps you out some

And PS Welcome to Toyota Nation!!
