A massive global recall, mounting legal bills and a battered reputation add up to a very expensive problem for Toyota. It estimated that the worldwide recall, now involving 8.5 million cars could cost up to $2 billion. Existing Toyota owners who buy another vehicle from the company will receive two years of free maintenance. The automaker also is offering zero-percent financing and low-priced leases to customers who buy or lease several of the recalled vehicles, including Corollas, Camrys and Avalons. Since the fall, Toyota has recalled more than 6 million vehicles in the United States because of acceleration problems and braking flaws. Regulators have linked 52 deaths to crashes allegedly caused by accelerator problems. At least 89 class-action lawsuits have been filed against the Japanese automaker, which could cost the company $3 billion or more. Toyota is now addressing the problems and fixing what can be done.
http://seattletimes.nwsource.com/html/businesstechnology/2011355887_apasjapantoyota.html
I think that sucks that toyota is facing this. It is their fault, and I had no idea that 56 deaths were involved in this.
ReplyDeleteOf course its going to cost Toyota a lot of money, if they would have been more careful in expecting their cars before they put them out to sell mayble they wouldnt be facing this problem right now. They are the one responsibe for the faults in the vehicles and if they want to get their reputation back as a saft automobile company then cost should not be the first thing they are thinking about. The safety of the customers is the most important thing.
ReplyDeleteWell obviously Toyota is going to loose so much money.. and the Star rating is way below now... It is sad to see them go down in the market, but who's going to buy a Toyota now when 56 deaths had occured? No family with kids will want to risk this... I've seen some shows about Toyota's reputation and they had a lot of young people driving them saying that they had no problems with the car and as long as nothing happend to them, they would be driving it... But once something happens, they will definitely try to sue... It's a tough spot that Toyota is in and I really can't say much about this, but someone needs to fix this problem somehow so their rating can go up again and no accidents can occur in the future..
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