And only Toyota is now facing very public criminal investigations.
Wait. Criminal investigations?
Yes, folks, we've moved beyond congressional grandstanding -- even as that grandstanding is just getting started. Toyota said Monday that it had received two federal subpoenas: one from the Securities and Exchange Commission, and one from a federal grand jury in New York. Of course, subpoenas don't necessarily mean that charges will ever be filed. But they're a sign that people -- federal law enforcement people -- are now thinking in those terms. Pending class action suits -- an aggrieved maybe-whistleblower, a former Toyota lead defense counsel who claims to have proof that the company withheld evidence of safety defects -- will add even more drama to the congressional hearings getting under way Tuesday.
I believe Honda will benefit from TM problems the most. It will be hard (if not impossible) for Japanese car buyers to switch from Toyota to Ford, but it will be very easy and logical to switch to Honda. I personally owned both Honda and Toyota cars, but I have never even test driven any Ford at all. I will simply buy Honda when Toyota has problems.