Report: Toyota Recall Costs Estimated at $2 Billion

Report: Toyota Recall Costs Estimated at $2 Billion

Toyota’s recent recall issues may cost the company an estimated $2 billion.

Along with the company’s third quarter report, Toyota estimated the costs of the global recall at 180 billion yen (US$2 billion), including 100 billion yen (US$1.1 billion) for repair costs and another 70-80 billion yen ($787-899 million) in lost sales. Toyota predicts a reduction of 100,000 vehicle sales as its recent troubles erode public confidence in the brand.

To make matters worse, these figures don’t include the costs of the just-announced Prius recall.

See more Toyota recall news at the Toyota Recall News Hub.

[Source: The Associated Press via]

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