Remember a couple years ago when some Toyota owners were making big news because their cars were accelerating on their own and led to countless accidents?? Remember Toyota never really wanted to own up to the issue, instead blaming driver error? Well it finally has come back to bite them. Read more after the jump.
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It was announced just a short time ago that Toyota has to set aside $1.1 Billion dollars, with the total possibly being as high as $1.4 Billion!!! The money will be divided up in a number of different ways. Some going to customers who endured some type of financial hardship due to crashing their car because of the unintended acceleration. Some of the money will go to former owners who sold their Toyota’s at reduced prices because of the bad publicity of what was happening. Attorneys alone will be getting about $200 million for representing all the numerous plaintiffs. Now in typical big corporation fashion, Toyota admitted no guilt of the problem instead trying to focus on moving forward. Christoper Reynolds, Toyota’s top North American legal adviser said
“”This was a difficult decision, especially since reliable scientific evidence and multiple independent evaluations have confirmed the safety of Toyota’s electronic throttle control systems,”. “However, we concluded that turning the page on this legacy legal issue through the positive steps we are taking is in the best interests of the company, our employees, our dealers and, most of all, our customers.”
So even after the settlement they still wont take full responsibility, but at the end of the day this is as good as it will get for people who were affected by the car malfunctions. Right now I kinda wish I had a malfunctioning Toyota a couple years ago so I could see some $$$.
