The big question is how much will Toyota wind up paying in legal claims for the lawsuits it faces and will face as a result of its unintended acceleration problems?
For years, if you wanted to buy a Toyota you knew that you weren't going to get much of a deal. It was a given. Some people grumbled about it, but most looked at it as the price you paid for peace of mind. After all, when you bought a new Camry or Corolla you knew the car wasn't going to break down or be part of a major recall like many of its American rivals.
From Washington to Detroit to California there is one question being asked time and again: Why didn't NHTSA (National Highway Traffic Safety Administration) move quicker on Toyota?
One implies screwing up one too many times. The other suggests you finally get it right. The question for much of America is which one suits the current situation Toyota finds itself in right now?
Many economists say Toyota’s trauma is a wake-up call that Japan needs to understand that its reliance on manufacturing and industrial exports, which served the country so well after World War II, is no longer wise.
Ever since Toyota's gas pedal problems came out roughly four months ago, I've often asked executives with the Big 3 why they aren't more aggressive going after Toyota. The executives often told me, "We're getting the message out there." It was as if the folks in Detroit were afraid to take a shot at Toyota.
Amid fears that go-it-alone moves such as President Barack Obama's plan to break up big banks will further hamper the fledging economic recovery, finance ministers and central bankers from the Group of Seven major industrial countries meet.
Two weeks after announcing the recall of 2.3 million cars and trucks that may have sticking gas pedals, and just days after admitting there may be a problem with the brakes on 2010 Prius models, the namesake and top guy at Toyota finally addressed the controversy.
Now even Toyota's golden child is tarnished. Early this morning in Japan, Toyota announced that there was a design flaw in the anti-lock brakes of third generation Prius models made up until January of last year.
Ever since Toyota first addressed complaints about unintended acceleration last October, there have been a steady number of complaints from Prius owners. I've heard them from time to time and they basically amount to Prius owners saying their car suddenly sped up or the brakes didn't work properly.
Japan's largest investment bank, Nomura Holdings, has been one of the beneficiaries of the financial crisis. Its EMEA Chairman and CEO Sadeq Sayeed told Maria Bartiromo on the sidelines of the World Economic Forum in Davos that "the more turmoil there in the market surprisingly helps us."
Today in Washington, Secretary of Transportation Ray LaHood publicly blasted Toyota for being slow to react to concerns about its accelerators and unintended acceleration. LaHood said federal safety officials had to "wake them (Toyota) up" to the seriousness of the pedal issue.
Both Toyota and its suppliers are to blame for the massive recall that hurt the Japanese automaker's reputation, investor Wilbur Ross, WL Ross & Co. Chairman and CEO, told CNBC Tuesday.
Automakers around the world have found some stabilization after trying to stabilize in 2009 in which the industry saw big players die, merge and shrink. But Renault-Nissan CEO Carlos Ghosn is optimistic, believing the sector will see gradual growth in the new year in every market except Europe.
The statement was straightforward with an appropriate amount of contrition. When I talked with Jim Lentz, the head of Toyota USA he was direct in admitting his company is embarrassed by the on-going controversy over sticking gas pedals.
Asia's banking sector will return to stability this year driven by better economic conditions throughout the region, said Deborah Schuler, senior vice president for financial institutions group at Moody's Investors Service.
Toyota managed to win bragging rights as the world’s biggest car company. But that focus on rapid growth appears to have come at a cost to its reputation for quality, creating an opportunity for others to potentially take back market share they lost to Toyota. The New York Times reports.
When I talked with Ford CEO Alan Mulally 10 minutes after his company filed fourth quarter earnings, there was a tone of satisfaction in his voice.
Think you may own one of the 2.3 million Toyota models being recalled because of a potentially dangerous accelerator? It's easy to find out for sure.
Toyota is suspending sales of roughly 57% of its new cars and shutting down assembly lines for eight models. That alone should spook Toyota investors. But the troubling part of Toyota halting sales of new models is the fact nobody knows how long it will last.