Toyota's Sees Reputation Boost Following Announcement
From being down in the gutter to living the good life, it doesn’t take long to get an image boost in America. Toyota, which was reeling after numerous recall woes, has just seen itself jump up once again in the popularity charts.
Automotive News is reporting that it only took two days for Toyota’s reputation to rebound after engineers at the National Aeronautics and Space Administration found that the company’s electronic were not to blame for unintended acceleration.
Toyota's reputation, which is being analyzed by YouGov/Brandindex, a company that tracks the customer perception of popular brands, has climbed out of the cellar just days after the announcement was made.
Not to mention the fact that Toyota’s stock, as reported on by TorqueNews yesterday, jumped by 7.68 over the pre-announcement levels.
Toyota is also experiencing strong sales in China and they have raised their full-year earnings and sales forecast due to these strong automotive markets. It seems Toyota is living the good life once again, but what exactly did NASA find?
Well, in order to investigate Toyota’s recall problem thoroughly, the Department of Transportation called in the best minds from the space administration to look at all the issues that were surrounding the unintended acceleration claims. Those engineers, after months of painstaking work, found that Toyota’s electronics were not to blame for the incidents. All the occurrences of unintended acceleration were due to sticky pedals, floor mat interference or pedal misapplication.
"Nobody is viewing this as a victory," said Bob Carter, Toyota Division general manager to Automotive News. "It's more a validation of what we've been saying all along."
Toyota has been persistent in stating that their electronics were not to blame for all those incidents and last year’s pedal and floor mat recalls solved the problem.
Should one be apologizing to Toyota? That matter can be debated back and forth for some time, as the media and the government did issue an electronics witch hunt on the company, but then again, they did attempt to cover up the acceleration issue. It’s best to make up ones own mind in this, very sensitive, case.
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