Toyota loses $21B in market share in one week, plans media blitz this week
by Chris Shunk (RSS feed) on Jan 31st, 2010 at 11:00PM
After a long spell as the apple of the media's eye, Toyota is now officially in the bad news barrel. So far the Japanese automaker has announced the recall of 5.3 million vehicles for floor mat issues that may lead to unintended acceleration and a separate recall of 2.3 million vehicles for sticking gas pedals (watch the explanatory video). The entire ordeal has been a public relations nightmare, and as you'd expect, Toyota's stock is taking a hit. Last week alone shares in the automaker plunged by a jaw-dropping 14 percent. That's a drop of $21 billion (with a B) in market value. The lion's... Read More
