Toyota's Defective Cars Cost Company 1.4 Billion!

Posted in the China Forum

SHUT IT DOWN

Brooklyn, NY

#1 Dec 26, 2012
Toyota Motor Corp. has agreed to pay as much as $1.4 billion to settle U.S. litigation claims that its vehicles suddenly and unintentionally accelerated, according to court filings made public Wednesday.

The company said the deal will resolve hundreds of lawsuits from Toyota owners who said the value of their cars and trucks plummeted after a series of recalls stemming from claims that Toyota vehicles accelerated unintentionally.

Steve Berman, a lawyer representing Toyota owners, said the settlement is the largest in U.S. history involving automobile defects.

"We kept fighting and fighting and we secured what we think was a good settlement given the risks of this litigation," Berman told The Associated Press.

The proposed deal was filed Wednesday and must receive the approval of U.S. District Judge James Selna, who was expected to review the settlement Friday.

Toyota said it will take a one-time,$1.1 billion pre-tax charge against earnings to cover the estimated costs of the settlement. Berman said the total value of the deal is between $1.2 billion and $1.4 billion.

Hundreds of lawsuits have been filed against Toyota since 2009, when the Japanese automaker started receiving numerous complaints that its cars accelerated on their own, causing crashes, injuries and even deaths.

The cases were consolidated in U.S. District Court in Santa Ana and divided into two categories: economic loss and wrongful death. Claims by people who seek compensation for injury and death due to sudden acceleration are not part of the settlement; the first trial involving those suits is scheduled for February.
Auto-Wise

Canada

#2 Dec 28, 2012
Toyota Production System (TPS) is no longer the best quality system in the world.

It is decaying, and that is why there are so many recalls of Toyota cars in the last 3 years.

On the other hand, GM and other American auto-makers are improving. They may have a bit more post-sales problems than Japanese cars, but consumers are compensated by significantly lower prices.

If you do not support North American automotive industry, it will be gone forever and we shall be at the mercy of the Japanese.

Support North American cars!!!
RayH

Shenzhen, China

#3 Dec 28, 2012
Auto-Wise wrote:
Toyota Production System (TPS) is no longer the best quality system in the world.
It is decaying, and that is why there are so many recalls of Toyota cars in the last 3 years.
On the other hand, GM and other American auto-makers are improving. They may have a bit more post-sales problems than Japanese cars, but consumers are compensated by significantly lower prices.
If you do not support North American automotive industry, it will be gone forever and we shall be at the mercy of the Japanese.
Support North American cars!!!
Jap products' quality has been in the decline since 2005.
Drgunzet

Boise, ID

#4 Dec 28, 2012
Imagine how much it would cost once we realize how defective China is?

_ Huge pollution.
_ Imbalance between male and female sex ratio.
_ Imbalance demographics from the one-child policy.
_ Children got poisoned with bad milk. As that was not bad enough, Children got stabbed to deaths in school by maniacs.
_ Ant tribes with fraud education, ripping off tuition fees from the poor students from small villages, then giving them worthless paper degrees.
_ 65 million unsold apartments while there are ten of millions who live under the bridges or shanty towns.
........
The list is loooooooong ok. Add it here for your take.
_ Last but not least, dead corpses floating in Yellow river from people who committed suicides. The bodies got fished out into ponds for love ones to collect. It's gross.
Snowflake

San Francisco, CA

#6 Dec 28, 2012
Spoken like a ral VC, get off the baord , go back to Nam.
Drgunzet

Boise, ID

#7 Dec 28, 2012
Snowflake wrote:
Spoken like a ral VC, get off the baord , go back to Nam.
Spelling like a real Chinese, get off the board, go back to China.

Since: Feb 12

Taipei, Taiwan

#8 Dec 28, 2012
RayH wrote:
<quoted text>
Jap products' quality has been in the decline since 2005.
Any quality is better than China quality.
Drgunzet

Boise, ID

#9 Dec 29, 2012
StarsplashTaiwan wrote:
<quoted text>
Any quality is better than China quality.
QFT!
RayH

Shenzhen, China

#10 Dec 29, 2012
StarsplashTaiwan wrote:
<quoted text>
Any quality is better than China quality.
Is that why everything you own is made in China?
Auto-Wise

Canada

#11 Dec 29, 2012
Japanese-Taiwanese put down China-made products because they are proud of their Japanese roots.

Some Chinese products are excellent in quality but it costs us more to buy. We consume many cheap Chinese products, most of which are acceptable and only some are defective.

Japanese products were very bad in the 1950's and 1960's until a big change occurred in the 1970's when Japan invited Professor Deming to teach them how to manage quality.

Today Chinese products are improving that's why companies such as Haier (together with LG and Samsung) can take over the market share of Sony and Panasonic in the world.

China has done an excellent job in many respects. Japan has so many failures in satellite launches, but China's record is amazing (which is even better than the European Space Agency.)

So China has the potential to be even better.

Despite Taiwan's close connection with Japan, Taiwan does not have a quality mindset and system that match Japan.

Since: Feb 12

Taipei, Taiwan

#12 Dec 29, 2012
RayH wrote:
<quoted text>
Is that why everything you own is made in China?
Most of my stuff is made in Taiwan, not China.

And most of the things that I bought that are made in China had to be replaced in a month because of bad quality.

Just because everything is made in China, doesn't mean the quality is better. Just means, everything is made in China, which if you read what I said, I never said anything about things made in china, but just talking about quality. So ya... L2Read.

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