Toyota Loses $21 Billion, Plans Media Comeback

The Armageddon-like recall of Toyota vehicles is proving to be a tougher nut to crack for the Japanese carmaker. What started out as a minor glitch is now turning into a problem of biblical proportions, a problem which already cost Toyota and its investors $21 billion in stock. Toyota's stock dropped 14 percent last week alone...

To limit the proportions of the disaster, Toyota now plans a media blitz, emphasizing how safe, reliable and trustworthy the carmaker and it leadership are. The blitz already started with CEO Akio Toyoda's speech in Davos, a 75 seconds clip in which he apologizes for the "unease" caused to Toyota customers.

"We're extremely sorry to have made customers uneasy," Toyoda said. "We plan to establish the facts and give an explanation that will remove customers' concerns as soon as possible."

Today, February 1st, the counter offensive will be led by Toyota's US chief, Jim Lentz, who will be featured on several television shows, including NBC's "Today" show. The appearances will be the first made by senior North American executives since the recall turned into a monster.

Toyota already posted ads in several major newspapers on Sunday, trying to address the issue. The two recalls which have impaired the carmaker were even given official names: "Floor Mat Entrapment" and "Pedal". As the problem becomes more and more obvious, Toyota's Customer Center got swamped.

"We recognize you may have experienced lengthy wait times when calling our Customer Experience Center. We apologize for this," read Toyota's websites.
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About the author: Daniel Patrascu
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Daniel loves writing (or so he claims), and he uses this skill to offer readers a "behind the scenes" look at the automotive industry. He also enjoys talking about space exploration and robots, because in his view the only way forward for humanity is away from this planet, in metal bodies.
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