Former, Current Toyota Owners Suing for Lost Resale Value
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]
Jason Siu began his career in automotive journalism in 2003 with Modified Magazine, a property previously held by VerticalScope. As the West Coast Editor, he played a pivotal role while also extending his expertise to Modified Luxury & Exotics and Modified Mustangs. Beyond his editorial work, Jason authored two notable Cartech books. His tenure at AutoGuide.com saw him immersed in the daily news cycle, yet his passion for hands-on evaluation led him to focus on testing and product reviews, offering well-rounded recommendations to AutoGuide readers. Currently, as the Content Director for VerticalScope, Jason spearheads the content strategy for an array of online publications, a role that has him at the helm of ensuring quality and consistency across the board.
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Obviously Toyota must sue NHTSA and several mediacompanies about spreading lies. If someone is blamed without reason there has to be consequenses.
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 theyre worth now.