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Toyota Motor Corporation Message Board

  • personality_less personality_less Oct 28, 2013 9:19 AM Flag

    This Automaker (toyoDUH) Will Pay the Piper for Vehicle Defects

    Mistakes by automakers often end up leading to costly recalls or, in the worst cases, lawsuits following deadly crashes or personal injuries. As October drew to a close, three of the world’s leading automakers had their day in court and each admitted defeat on some level, settling claims over faulty products and a wrongful death, while an electric vehicle maker escaped investigtation. Here’s the rundown on a busy week of automotive lawsuits.

    Toyota loses on unintended acceleration
    Despite the terrible press and $1.1 billion class-action suit payout following Toyota’s (NYSE:TM) unintended acceleration issues, the Japanese automaker has emerged with mainly surface wounds from the defects in its automobiles. That trend took a turn for the worse when Toyota agreed to pay $3 million to settle a suit involving a crash by an Oklahoma woman that killed a passenger, CNN reports.

    The settlement did not force Toyota to acknowledge wrongdoing, which the automaker continues to deny, but the jury declared Toyota was “reckless” in its regard for public safety as it pertained to the defective accelerator. The automaker had won two cases involving personal injury stemming from the operation of Toyota vehicles. Some 700 cases are still pending, which spells tremendous worry should the losses continue.

    Sentiment: Strong Sell

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115.50+0.25(+0.22%)Oct 26 4:02 PMEDT