Tarnished Toyota

Posted by Admin | February 6th, 2010

Toyota has madeĀ  a major blunder, but not in the way that most people seem to think. Yes, obviously making cars with “sticky accelerators” was a mistake–but it was obviously one which was not within their control. The big mistake I speak of is not admitting their mistake at an appropriate time and then not taking big enough steps to fix the problem.

Figuring out the technical problems that got them into such a mess is only the first step for Toyota as the Japanese carmaker renowned for its customer loyalty could face a long slog winning back the confidence of motorists and regulators alike.

Customer loyalty is something that is built up over years and years, and Toyota just blew it big time.

An analysis by research firm IHS Global Insight concluded that “Toyota vehicles have long been known for their rock-solid reliability and excellent resale values, but this episode will undoubtedly tarnish its reputation and is likely to affect the company’s sales, although for how long will depend on the region.”

Read the rest here.