Toyota Trouble- MoneyTV with Donald Baillargeon

Well, that flash of metal that blew by you on the freeway yesterday was likely yet another runaway Toyota Prius…more reports are coming out about the famed hybrid and darling of the left becoming increasingly unreliable…deciding all by itself to suddenly zoom up to speeds of 94 miles per hour…

Why is it then, when a Prius is in front of me in the carpool lane, it never goes over 50?

Anyway, Toyota is taking a serious public relations hit and if this keeps up, who knows if they could recover from it?

American car manufacturers and companies selling cars over here tout safety in their ads again and again…because, well, the streets are a dangerous place as we hurtle along at high speeds, in projectiles that weigh 4000 pounds or more, while some of our fellow drivers, text, tweet, chat and surf the web on their cell phones.

Toyota’s problems are even beginning to eclipse those that befell General Motors. GM, which admittedly built some very bad cars in the 1980s, suffered mainly from a reputation of poor quality rather than their cars suddenly becoming an out of control instrument of death.

The destruction of GM as the world’s largest corporation with the most significant market share took a couple of decades to happen…but 30 years ago we didn’t have 24-7 instant news and camera phones, tweets and recordings of 911 distress calls.

The destruction of a reputation today can take just a few hours…just ask some Hollywood celebrities and pro athletes.

Toyota is omnipresent in the US economy.

Toyota employs nearly 35,000 Americans in 10 manufacturing plants and when you include Toyota dealers, almost 175,000 people in the US get their paycheck each week as a result of Toyota.

The company spent $5.2 million in Washington lobbying efforts in 2009 alone, so they even act like a US corporation.

The question is…would you feel safe in a Toyota right now…would you buy one?


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