In the wake of multiple recalls of millions of Toyota vehicles, some owners and lessees of the vehicles sued Toyota Motor Corp. in an effort to recoup monthly loan and lease payments while repairs are being made.
But another lawsuit, filed earlier this week, takes the charges a step further. In effect, 10 people in Ohio and Kentucky have banded together on behalf of all Toyota and Lexus owners —not just those affected by the recalls. Their claim:
“…The harm to Toyota’s reputation is brand-wide and has negatively impacted the value of all Toyota vehicles,” said attorney Justin Sanders, one of four lawyers with the Sanders Law Firm that filed the lawsuit in U.S. District Court in Covington, Kentucky.
In backing the claims, Sanders cited drops in Kelley Blue Book and NADA used-car values.
“In the wake of the news reports about this serious problem, Toyota customers and general public are extremely skeptical about the quality and safety of Toyota vehicles,” according to the lawsuit. “The entire fleet of Toyota vehicles has been stigmatized by this defect, regardless of which vehicle models and model years have been included in the recalls.”
Thoughts, anyone?
Just checked wholesale values and in fact they have held fairly steadily since December, so a bit premature to sue on something that hasn’t happened yet. Dealers are still buying Toyotas. Retail values maybe different but wholesale looks steady for now. Could this just be lawyers sensing a payday?
These people made the decision to buy Toyota’s when there were of course many other choices. American car customers have willingly been taking it in the shorts on resale value for years, while Japanese products have held their value much better. I guess the Japanese companies are expected to be held to a much higher standard, while US firms can put out garbage for years and just wait for the bailout. I can’t help but wonder if all this bad publicity is being orchestrated by the US gov’t since we now own most of the US auto industry…..kind of makes you go hmmmmmmmmmmm.
Is anyone surprised by this? As usually an attonery first thought is to sue. I think Richard and Matt comments are spot on.