Toyota Financial Troubles Not Over
By Arnab Ghosh, Gaea News NetworkFriday, May 21, 2010
SAN FRANCISCO (GaeaTimes.com)- The year 2010 has brought bad news and financial woe for Japanese car giant Toyota Motors which is still reeling under a number of car recalls affecting its flagship models since the beginning fog the year. It has decided to recall Lexus LS sedans to resolve a steering problem that has resulted in complaints pouring in Japan. The announcement of the US arm of Toyota Motors comes immediately after the Japanese Parent company decided to call back around 4500 Lexus models made in this year. The company had received a dozen complaints from the Lexus owners in Japan so far.
Toyota has found out that in these Lexus models the steering causes difficulty after taking sharp turns in some cases. It may lead to accidents and the company which has paid a hefty fine to the US government does not want any more goof ups. It also wants to project a customer conscious image to all after the financial drubbing it has received owing to the massive recall. The Lexus models that are equipped with Variable Gear Ratio Steering system are being affected by this recall. However, a Toyota spokesperson said that the steering system was developed to handle low-speed situations better and also to increase stability when the driver is speeding up.
Toyota is trying its level best to overcome the recall fiasco and start afresh in global markets. It has recently tied up with California based Tesla motors to start production of a new electric sedan. It is also offering lucrative discounts and bundled goodies with new Toyota cars.
