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Toyota announces yet more problems

Despite announcing the recall of 8.1 million vehicles worldwide, only last week, Toyota's reputation is this evening in tatters after announcing the possible recall of 270,000 of the company's flagship Prius hybrid cars. This is the vehicle which Toyota has been using to spearhead its move into the hybrid market and the recall of vehicles, allegedly because of breaking problems, would be a severe blow for the company.

At a time when the car market is still struggling to recover from the economic downturn this is the last thing which Toyota needs to hear. Not only will the recall, testing and compensation relating to the 8.1 million vehicles and potential 270,000 extra vehicles cost the company a fortune but more importantly the company's reputation will be severely impacted. Toyota has for many years been one of the leading car manufacturers in the world with exposure to all major markets and offering a brand name which exudes quality, durability and affordability.

Aside from the fact that Toyota is toiling from the drip feed of bad news, the potential recall of one of the leading hybrid vehicles in the world will do nothing for the hybrid vehicle sector as a whole. Consumer confidence will be impacted with many concerned it could take some time for Toyota to regain its reputation and standing in the marketplace.

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