It looks like Toyota (Stock Quote: TM) had its eye on the bottom line from early on in its recall saga.
As reported by CNN, internal Toyota documents show that an “executive boasted of the company saving $100 million by negotiating a limited recall for Toyota Camry and Lexus ES cars over a problem that could cause unintended acceleration.”
Here are the details: “In an internal Toyota (TM) document used as part of a company presentation on its government relations, dated July 6, 2009, the phrase ‘Negotiated 'equipment' recall on Camry/ES re: [sudden acceleration], saved $100 million+ with no defect found’ is among a bullet-pointed list of ‘wins.’”
Actually, I would think that a more substantive “win” would be manufacturing cars that don’t accelerate without warning and kill entire families. Just a thought.
Stay classy, Toyota.
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