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Toyota recall cost will exceed $2 Bln, lawyers say

Posted by on Feb 9th, 2010 and filed under Business, Nation. You can follow any responses to this entry through the RSS 2.0. Both comments and pings are currently closed.

Feb. 9 (Bloomberg) — Lawsuits against Toyota Motor Corp., the world’s largest automaker, will push the cost of recalls linked to sudden acceleration past a $2 billion company estimate for warranty payments and lost sales, customer lawyers say.

People who purchased Toyota vehicles in the U.S. have filed at least 39 class action lawsuits against Toyota, seeking damages that range from loss of car value to a return of profits.

Toyota faces at least 13 individual lawsuits claiming deaths or injuries caused by unwanted acceleration of vehicles. Customer lawyers said they’re considering filing dozens more.

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