Toyota Pays Government $48.8 Million
Toyota has announced that they will pay the government around $32.4 million dollars in fines to cover two accidents with the recent recalls that the company experienced with the gas pedal sticking into the floor mat and causing many who drove Toyota's to experience a loss of control and crash. This amount of money is in addition to the fine of $16.4 million that the company paid earlier this year for a related issue.
This brings the total that Toyota has had to pay thus far to around $48.8 million. Meanwhile, on top of the fines, Toyota has been struggling in order to maintain their reputation that before these recalls was one of the best in the world.
This amount of money that is being paid to the government, does not necessarily mean that the company will not have to go through the series of lawsuits from consumers that are bound to happen, and are already in process. These are basically fines for not admitting to the public and the government that there was a problem and not abiding by the regulations that are in place in order to ensure safety from these recalls.
So what is in store for the Toyota Company? The question is something that most people are wondering. The car maker used to be number one in the world however, the consumer world is a bit hesitant to purchase Toyota's given the number of safety recalls that the company has experienced. However, Toyota is slowly starting to rebuild its reputation, making sure to go over their vehicles with a fine tooth comb in order to make sure that those safety flaws from past vehicles are not in the newer vehicles that they are releasing today. However, the sales of Toyota have suffered a little, there should be no reason that the company cannot bounce back from this incident and thrive once again.