— This is the script of CNBC's news report for China's CCTV on April 10, Thursday.
Welcome to the CNBC Business Daily.
Toyota's reputation takes yet another hit.
The Japanese automaker is recalling over 6 million cars worldwide... its second biggest recall in 2 years.
There are 27 models in question... including the RAV 4 and the Yaris subcompact.
The company said it's not aware of any injuries or crashes related to the glitches.
It's not clear either how much this recall will cost the company.
But analysts saying --- it's not necessarily a bad thing.
[Jessica Caldwell, auto analyst, Edmunds.com] "I think that there is a lot of proactiveness for all the automakers. So if there's ever an issue they want to get it fixed, get the cars recalled... get them in and make sure the customers are safe out there on the roads."
[JASON MOSER, Senior Analyst, The Motley Fool] "Recalls are just part and parcel of the auto business, so at this point of the game, it's not really the recalls that investors would want to be concerned with. It's more about how management, how the company responds to the recalls."
But the real question remains - Should investors own this stock?
[JASON MOSER, Senior Analyst, The Motley Fool] "I don't necessarily know that you do actually. Certainly, the recall from 2009 had a tangible effect on the company's market share. They lost about 3 to 4 percentage points in market share domestically here alone. I'm not necessarily sure that auto makers are where investors want to be focusing their attention right now, because they're so capital intensive and we know that recalls like this are just going to be part of the game going forward. So it's actually worth looking elsewhere. "
Now - This latest recall comes as GM in the U.S. is in the grips of its own recall crisis..
And Toyota has also just paid a $1.2 bn criminal fine to settle a case over unintended acceleration.
Auto analyst Koji Endo estimates the costs of this recall on the company's earnings.
[KOJI ENDO, Managing Director, Advanced Research Japan] "As far as the direct impact in terms of earnings for this year, is going to be somewhere between JPY50 billion to JPY60 billion, which is not really a small number, but still, compared to the expected income Toyota is going to make for this year, which is probably about JPY2.6 to 2.7 trillion, then JPY50 to 60 billion of impact is relatively small. But then again, the company has been facing a number of multi million volume of recalls so it really depends how they can fix this problem in the near future. "
And that wraps up this edition of the Business Daily.
I'm Sri Jegarajah, reporting from CNBC's Asian headquarters.