Report: Toyota Recall Costs Estimated at $2 Billion
by Dennis Chung
October 15th, 2013 2:23 PM
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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 AutoGuide.com Toyota Recall News Hub.
[Source: The Associated Press via Wheels.ca]
http://www.wheels.ca/article/784205
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