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As reported by the Wall Street Journal, Toyota, the world top seller of vehicles, could be facing a crippling blow as it delays eight of its top selling models in the United States.
Toyota has been forced to make the announcement of recalling another 2.3 million vehicles in the United States, following the earlier 4.2 million vehicle recall, due to a potential accelerator problem. This is the fourth largest recall in automotive history.
The range of suspended models relate to 57% of Toyota’s sales in the U.S. alone during 2009. The period of the suspended production is not clear. The major fear however, is that the problem will cause serious damage to Toyota’s image of a long history of quality and safety.
It is appears the full impact of the recall may not be felt until current owners attempt to sell or trade in their existing Camry or Corolla vehicle. It could also create a lessening in residual value of cars coming off leases.
In the past two years Toyota’s losses total $7.1 billion. The company had hoped to return to profitability by April 2010. This goal will now not be achieved.
Millions of vehicles have been recalled by auto companies, over the years. Here is a list of only the top ten.
3.6 million vehicles were recalled in 1987 by Ford, for a faulty fuel connection which caused engine compartment fires.
Between 1999 to 2004 3.6 million vehicles with corroded tailgate cables were recalled by GM.
3.7 million vehicles were recalled by Volkswagen in 1972, because windshield wipers worked themselves loose and spun off the vehicle.
Honda recalled 3.7 million vehicles in 1997, through cracked and disintegrating safety-belt release buttons, which caused belts to either fail, or trap passengers in their cars.
GM recalled 3.7 million vehicles in 1973, when stones disabled the steering assembly, causing loss of steering. The company agreed to install shields to prevent this from happening.
Ford Motors recalled 4.1 million vehicles in 1971, because the seatbelt shoulder harness tended to fray and detach from the metal holding it to the frame.
5.8 million vehicles were recalled by GM in 1981, as the suspension bolts in some models had a way of wiggling themselves loose, causing a loss of steering ability.
GM recalled 6.7 million vehicles in 1971, as engine mounts began separating from frames and forced throttles to the maximum.
Because fires started in faulty ignition systems, Ford recalled up 8.6 million vehicles in 1996.
The largest recall in the automobile history, was Ford’s recall of 12 million vehicles, in 2008, when the cruise-control switch developed a nasty habit of catching fire, sometimes hours after the vehicle had been parked and the motor turned off. Owners were slow to respond and by Sept 2008, 5 million vehicles were still unrepaired.
The number of recalls does not always reflect on bad workmanship, but may correspond to the care for safety on the part of the manufacturer, as is seen in Ford’s 1971 recall over problematic seat belts, at a time when very few people were in fact using seat belts.
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