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Toyota sees sales hit from massive recalls

Posted on Tuesday, February 2nd, 2010 at 2:20 PM EST.(Employee News)

Toyota Motor Corp., reeling from massive recalls on three continents, may have trouble meeting its 2010 sales target because of quality problems, a top executive said, the Automotive News reported.

Shinichi Sasaki, vice president in charge of quality, said it was still unclear what the financial impact of the recalls would be, the trade paper said. But sales will likely take a hit, he said Tuesday, the Automotive News said.

Since last fall, Toyota has recalled some 7.7 million vehicles in the United States, Canada, Europe and China to fix problems that could trigger unintended acceleration in its cars, the paper said. The number recalled falls just short of the 7.8 million cars Toyota sold worldwide last year, the report said.

“The sales forecast is a concern for us,” Sasaki said today at the company’s first press conference in Japan to address the rash of quality problems, the publication said. In the past, Toyota has experienced a 20 percent fall off in sales in the month immediate following recalls, he said, the paper reported. (Automotive News)
 
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