Another Toyota Recall: Counting the Costs

By Alan Ng - Jul 2, 2010

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.

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?

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