Home / Auto News / News article: Former, Current Toyota Owners Suing for Lost Resale Value - AutoGuide.com News
 |  Oct 13 2012, 12:01 PM

Toyota took a media beating over the last few years when the unintended acceleration phenomenon hit the news. And even though the National Highway Traffic Safety Administration (NTHSA) has exonerated the Japanese automaker, former owners of Toyota vehicles are now suing for “pure economic loss” from all of the negative press.

These former Toyota owners are claiming that the Japanese automaker owes its customers the difference between what the cars were worth before people started crashing their vehicles due to (alleged) unintended acceleration, and what they’re worth now.

Judy Veitz is one of those former Toyota owners, having owned a Prius that she experienced no issues with but is currently filing a lawsuit in California federal court that may change the way our legal system views economic loss cases.

It appears that Toyota owners who have sold their vehicles have been giving the nod to proceed with their lawsuits, but it’s not a guaranteed win. In fact, the cases are in low-level court so its decision isn’t even definitive. It should only be a matter of time before the higher courts get involved, as these cases could set a new precedent for economic loss lawsuits.

[Source: Car and Driver]

  • http://www.facebook.com/justyn.gottlieb Justyn Gottlieb

    wow just wow!
    so will ford will be sued for falling hatches and exploding tires which happen many years ago? every automotive manufacture experiences recalls even the high end cars like aston martin and Ferrari.

  • Ashamed US citizen

    Americans

  • http://twitter.com/rcharles30 Richard Charles

    Does that mean I can sue for my house value going down too?……..Wow, people are so dumb.

  • Carrie

    I don’t see this going anywhere. If you don’t want an economical loss on a car, keep the new car 7-10 years or buy a used car.  Cars are an economical loss product to begin with. Just like most items we buy today. Might as well sue someone for the economical loss because of all the houses dropping in value.  The list can go on.

  • turpo

    Obviously Toyota must sue NHTSA and several mediacompanies about spreading lies.
    If someone is blamed without reason there has to be consequenses.

  • http://www.videobash.com/videos/cars Karey Wynne

    These former Toyota owners are claiming that the Japanese automaker
    owes its customers the difference between what the cars were worth
    before people started crashing their vehicles due to (alleged)
    unintended acceleration, and what they’re worth now.