Toyota settlement over acceleration problems to top $1 billion - Business on NBCNews.com.
This is what we get by having a throw-away consumer culture. These lawsuits are based solely on the perceived loss of resale value.
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Toyota settlement over acceleration problems to top $1 billion - Business on NBCNews.com.
This is what we get by having a throw-away consumer culture. These lawsuits are based solely on the perceived loss of resale value.
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2012 ECO MT - Black Granite/Cloth; Bluetooth Stereo AUX; OEM Fogs w/Chrome Covers; GM Spare tire; VG Shark Fin
2010 Mit Lancer GT MT (traded for ECO @31K miles)
2002 Pont Montana AWD (traded for 2012 LS @182K miles)
1990 Pont Transport (traded for Montana @240K miles)
1986 Fiero GT MT (traded for Transport)
1985 Fiero 2M4 MT (traded for Fiero GT @8K miles)
Reading all the way through to the end, the lawsuits have been broken into two sets. One set, which has the $1.2-$1.4B settlement is based on perceived loss of resale value. The other suit, based on actual injuries and deaths, hasn't started yet.
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2012 ECO MT - Black Granite/Cloth; Bluetooth Stereo AUX; OEM Fogs w/Chrome Covers; GM Spare tire; VG Shark Fin
2010 Mit Lancer GT MT (traded for ECO @31K miles)
2002 Pont Montana AWD (traded for 2012 LS @182K miles)
1990 Pont Transport (traded for Montana @240K miles)
1986 Fiero GT MT (traded for Transport)
1985 Fiero 2M4 MT (traded for Fiero GT @8K miles)
Ouch, large businesses usually plan for lawsuits and things like that, but those are big chunks of change.
Man between the Tacoma recall a few years back for faulty frames, the less publicized recall of the Tundra for faulty frames and now this they are out about $5 billion in the last few years. Never been impressed with Toyota's. Everyone I worked on was also rusted to **** underneath.
Nick
USAF
www.motorcityforums.com
2011 Cruze Eco
1988 Pontiac Trans Am GTA http://www.fquick.com/garages/viewvehicle.php?id=9723
In the recent past:
2002 Trans Am WS6 346CI of unbridled fury! 469RWH/434RWTQ 11.01 @ 123MPHYou will be missed!
2005 Subaru Legacy GT 309WHP/357RWTQ 12.21 @ 113
2000 Subaru Impreza RS 203WHP/201WTQ 14.2 @ 103
Wow, that's getting up there. Still not into the Ford/Firestone territory though. At least with the tire recall, Ford could change out the faulty tires and generally things were ok. It was something people could physically see, and when they saw they were gone, they probably had a little bit of increased confidence. Sure, running the tires underinflated on a vehicle that was already not too stable is another issue though. With this pedal situation, how do you know it won't get stuck again? It's still a Toyota part and the consumer can't see it not sticking.
But it's ok because they have brainwashed all of their alien customers to love everything they build and buy it happily!
I deal with this mentality all the time in my RV community. Since the particular brand was sold mostly on the eastern seaboard, we have lots of owners who just love their Toyotas. They come around and want to pull a big trailer with it and just don't understand when their little shoebox on steroids doesn't really have the guts that Toyota tried to market it having. The numbers are the way they are, but I think many of the Toyota trucks/SUVs are designed to look much larger/more masculine/tough looking than they really are. For example, the Sequoia seems to compete with the Expedition, yet has about a 2000# sacrifice in towing capability. That's actually not bad though- I see many more people wanting to tow large trailers with what they think is a large truck, the Tundra. It has towing capabilities that compare to a 10 year old F150/1500, yet people think they can put these huge, heavy trailers with slides behind them and be fine. Overinflated tow ratings are an issue I won't even get into, and that applies to all the manufacturers. In reality, the Sequoia/Tundra shouldn't be pulling much more than a 25-26' trailer, and the way that the industry has gone in the last ten years, that doesn't fit too many anymore.
Sorry for the rant- I guess being born and raised in the D, I don't have a whole lot of respect for the whole Toyota package. The company itself doesn't bother me that much, it's so much loyal following that's stuck on stupid to see the world around them.
Jon-
2012 Cruze LTZ RS 1.4L 6A, Autumn Metallic with Cocoa/Light Neutral
Built 2/23/2012 at Lordstown 19078!
Trifecta tuned, Injen CAI, Homelink mod, RS trunk badge, Sonic Turbo trunk badge, Husky Liners, custom front air shutter, Curt trailer hitch
2005 Ford Excursion Limited V10, soon to be converted to a 7.3 Powerstroke diesel. Pulls a 2007 Sunline Solaris T-286SR travel trailer.
Pure Michigan Cruzers
you have a vehicle thats 10+ years old... toyota spends 13-15,000 dollars and replaces the frame, brake lines, control arm's etc... how can you call this faulty? i've seen quite a few c/k pickups and rangers snap in half or f150's with shackle mounts rusted out to the frame.
the vehicles of choice by our technician's are normally vehicles approx 15 years old. most are 200-400k miles all original. and these are vehicles that were so called prone to sludge (5sfe/3vz/1mz motors)
I've been with toyota now for about 12 years, I would choose to drive my camry over my cruze anyday especially when it comes to drivability.
I am also yet to actually see a "sudden accelleration" vehicle with concerns that were not human error. The last time i had a real sudden accelleration vehicle was when drive by wire was first introduced onto the camry line in 2002 when a vehicle came in under warranty and a it had a faulty throttle body.
Don't take this as a fan boy post, As much as sometimes I regret not getting a corolla due to this heap they call a transmission (auto) this car is far more fun to drive then a corolla anyday. I've also owned 2 fords, 1 dodge (biggest pos), 2 mazdas (cx7 second biggest pos), cobalt ss in the time i've been with toyota..
Last edited by Toyotech; 12-27-2012 at 07:05 AM.
Wow it has little to do with fault or defect in manufacturing! It has more to do with there may be a problem or not with the product and Toyota has so much money that litigation can keep prodding at Toyota until they squeal like a pig and cough up big bucks to stop people from dragging their name thru the mud and killing their automotive dominance. The liberal court system depends little on what can be proved but what makes people happy by bringing down big business(esp. since they have money).
Look at at all the ads on TV for potential settlements against drug companies. The mere sound of getting money because you had something or did once in your life drives people in strange ways! I hate to say: There was an add for litigation against a drug company for a drug my mother took. They claimed If you know someone that took the drug and had some ill effects or even death you may be entitled to compensation. My mother died for what I perceive as more reasons than taking the medicine. But the mere sound of getting money rings louder in the ears than anything else. LOL
Say what you will about Toyota owners, but my 2002/2003 Camrys were downright the most reliable cars I've ever seen. Nothing but a timing belt and valve cover gasket in 10 years/120K on the 02. Boring, but a fantastic car. And the 2003 saved my life in an accident.
Sent from my iPhone using AutoGuide.com App
I wasn't trying to start a Toyota bashing thread, but one discussing the crappy legal system we have in the US. Paying a Billion dollars because someone thinks a recall lowered the resale value of their car. It makes the McDonald's hot coffee suit look ridiculous.
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2012 ECO MT - Black Granite/Cloth; Bluetooth Stereo AUX; OEM Fogs w/Chrome Covers; GM Spare tire; VG Shark Fin
2010 Mit Lancer GT MT (traded for ECO @31K miles)
2002 Pont Montana AWD (traded for 2012 LS @182K miles)
1990 Pont Transport (traded for Montana @240K miles)
1986 Fiero GT MT (traded for Transport)
1985 Fiero 2M4 MT (traded for Fiero GT @8K miles)
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