Massive Toyota Recall to Cost Japanese Automaker Over $2 Billion
How have you been affected?

For decades, the Toyota Motor Corporation has successfully (if quietly) dominated the international car market. But thanks to a pair of technical glitches in 8 million Toyota vehicles sold globally from 2005 through 2010, the automaker faces its biggest public relations disaster ever. Events have compelled Toyota to issue a huge recall on its vehicles: estimates suggest that the final price tag on the recall will be well over $2 billion.

According to reports, two main problems afflict the recalled cars:

  1. Many models have problems with their accelerator pedals. These pedals get stuck after being depressed, causing vehicles to accelerate when they shouldn't.
  2. In some vehicles, the gas pedal can get stuck under the floor mat, causing a similar kind of unwanted acceleration.

Fortunately for Toyota (and the company's customers), a quick fix to these pedal problems has been developed. Dealerships across the U.S., Japan, and Europe are hard at work implementing repairs. Some dealerships are staying open 24 hours to accommodate emergency requests. And Toyota has doled out thousands of dollars to hundreds of its dealerships to pay for the servicing.

Nevertheless, the damage done to Toyota's reputation is not insignificant. From January 21 to February 9, 2010, the company lost an unfathomable $33 billion in market value on the Tokyo Stock Exchange. And who knows what the long-term publicity repercussions will be? Toyota has long been prided itself as a "no drama" brand; so this systemic recall could leave the brand damaged for years.

Back to Top

Speak to an Attorney Today

If you or a loved one was involved in an injury accident in a Toyota (2005-2010 model), and a faulty accelerator pedal played a role in the accident, you could be entitled to significant compensation for injuries sustained and other damages. For fast and effective assistance with your Toyota accident and injury claim questions, connect now with the attorneys of Wingate, Russotti, Shapiro & Halperin, LLP. Read about our credentials and philosophy at www.wrshlaw.com, or dial us at (212) 986-7353 for an immediate, confidential and free consultation. Our NY auto product liability attorneys are proud members of the Million Dollar Advocates Forum, and the peer-reviewed rated Martindale Hubbell directory lists us as AV attorneys -- the highest rating for ethical standards and legal ability.

Back to Top