January 29, 2010
On January 21, 2010 Toyota issued a recall of 2.3 million vehicles of eight different models. The reason, faulty gas pedals that can stick or suddenly accelerate, even while the car is stopped. Adding to Toyota’s troubles, they do not yet know the cause of the problem and shut down production lines. Once they identify the issue engineers must then design a remedy for the recalled cars and have it approved by the National Highway Traffic Safety Administration. The recall has now expanded to the European markets, and also comes on the heels of a 4.5 million vehicle recall in Fall 2009 because of floor mats that jammed accelerators. Estimates are this recall will cost the company hundreds of millions of dollars and Toyota will need to work hard to convince customers of the brand’s safety and reliability. Other car manufacturers are seizing the opportunity and are offering incentives for consumers who trade in a Toyota for one of their vehicles.
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January 17, 2009
Toyota Motor Corp initiated a series of upgrades to its popular Prius to encourage greater sales in the overseas market. The company aims to sell 180,000 units domestically and 400,000 vehicles world-wide. This third-generation Prius features a more aerodynamic exterior and a solor roof to power the ventilation system.
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