Toyota Smoking Gun Presentation Now Public
The news-wires have been buzzing about a Toyota internal presentation that claims to have saved Toyota over $100 million dollars through various delays and negotiating tactics in regards to recall and safety issues.
According to an article on MSNBC:
“The document cites millions of dollars in other savings by delaying safety regulations, avoiding defect investigations and slowing down other industry requirements.”
And according to a Bloomberg post on BusinessWeek.com:
“Toyota Motor Corp. saved $100 million through a “negotiated” equipment recall on Toyota Camry and Lexus ES models and closed several additional U.S. defect investigations with “favorable” outcomes, according to a document sent to a U.S. congressional committee.
In other accomplishments described as “Wins for Toyota” the carmaker said it reduced or delayed the effect of proposed rules to require more rollover-resistant roofs, better door locks and stronger protection in side-impact crashes, according to the document that was turned over to the House Committee on Oversight and Government Reform and obtained yesterday. Delaying the rules was credited with saving about $135 million.
The document, dated July 6, 2009, may add to questions for President Akio Toyoda as congressional committees open hearings this week into how Toyota and U.S. regulators handled evidence of unintended acceleration that has led to recalls of more than 8 million vehicles worldwide since September. Toyota has said the recalls may cost about $2 billion in lost sales and warranty repairs.”
Presentation With Be A Hot Topic This Week
The “Smoking Gun” presentation lists Yoshi Inaba, Toyota’s chief executive in North America, on its cover. Inaba is scheduled to testify before the House Energy and Commerce Committee on Wednesday, along with Toyota president Akio Toyoda and Jim Lentz, president of Toyota Motor Sales USA. The committee is also expected to hear from LaHood, NHTSA Administrator David Strickland and safety advocates.
The Oversight Committee is holding a hearing Tuesday with Lentz, LaHood and Strickland. A Senate committee is planning a March 2 hearing.
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One Response to “Toyota Smoking Gun Presentation Now Public”
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I am concerned that my 2006 Toyota Camry is not on the recall list. While reversing out of a parking place the car accelerated in reverse and crashed into a tree then the engine roared and surged forward back into the parking area with trees I had just reversed out of. My foot was firmly on the brake the whole time. The car slammed into trees on the left, right and front of the car. When my vehicle did come to a stop it was in neutral with the tires dug deeply into the ground. There is no time to react to this type of deadly speed acceleration. The damage to the vehicle was in excess of $5600.00, my insurance doubled and I am lucky to be alive and that I did not kill someone in the parking lot. The crash was at such a high speed that even after repair the car is not restored to pre accident conditions. I have called Toyota and my Dealership about this issue and was told sorry the 2006 Camry is not on the recall list. My car has depreciated quickly in value because of this defect. I feel as if I am taking a chance with my life and the life of my child each time I drive this car because you can not get the car into neutral fast enough to avoid a crash. I have also found many other sudden acceleration complaints and accidents for 2006 Camry and other year models. I think this Toyota recall is excluding certain year models due to the huge numbers involved. These numbers are lives and this is a DEADLY safety issue.
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