Another Toyota Recall: Counting the Costs

 

By Posted 2 Jul 2010, 13:47

Earlier on, we informed you about the latest details regarding the new recall for car giants Toyota. It has been a few hours since, but we have now learned about the financial implications for Toyota as a result of this recall.

As reported from Reuters, a Japanese newspaper is reporting that the recall could end up costing a total of 20 billion yen, which equates to roughly $228 million US.

Also See: 2011 Toyota Tundra: 54,000 trucks recalled in Canada and US

Of course, Toyota are yet to confirm these prices, but the newspaper reports that each vehicle out of the 270,000 recalled will cost Toyota 74,000 yen ($844) per vehicle.

This is obviously a major setback for the automaker, who has only just recovered from their first major recall, which involved a problem regarding accelerator pedals.

What are your thoughts on this? Are you a consumer caught up in the midst of Toyota’s latest recall?