Toyota (TM) Quality Called into Question Following Second Large Recall
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Toyota (NYSE: TM) shares are looking to start off on the downside Wednesday, following news that it is conduction yet another massive vehicle recall.
The automaker will be recalling about 2.77 million vehicles related to water pump and shaft defects. We'd say these are two key components for a working vehicle, but just about everything save for A/C is key to a vehicle. Maybe not a roof.
Though recalls themselves don't affect the balance sheet too much, consumers will view Toyota as less reliable, virtually a trademark for the brand.
Last month, Toyota recalled 7.4 million vehicles due to a faulty power-window switch.
The company said no injuries or accidents have been reported on the current recall. Vehicles included are Corolla, Avensis, Prius, and the FCHV fuel cell vehicle.
Shares are down about 1.3 percent early Wednesday.
The automaker will be recalling about 2.77 million vehicles related to water pump and shaft defects. We'd say these are two key components for a working vehicle, but just about everything save for A/C is key to a vehicle. Maybe not a roof.
Though recalls themselves don't affect the balance sheet too much, consumers will view Toyota as less reliable, virtually a trademark for the brand.
Last month, Toyota recalled 7.4 million vehicles due to a faulty power-window switch.
The company said no injuries or accidents have been reported on the current recall. Vehicles included are Corolla, Avensis, Prius, and the FCHV fuel cell vehicle.
Shares are down about 1.3 percent early Wednesday.
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