The global recall of Toyota vehicles over a gas pedal problem is a case that will be interesting to watch over the coming weeks. How will consumers respond to a deeply trusted brand with a long history of success like Toyota suddenly failing on the public stage? Whether we like it or not, the rhythm of our lives is deeply linked to the brands we patronize. And if a brand as trusted as Toyota can fail its customers, who knows what’s next? It’s enough to make people anxious about brands. Especially given that faith in corporate institutions is already weak, with huge, seemingly solid financial brands having collapsed (e.g., Lehman Brothers) or come close (e.g., Merrill Lynch).
Some Americans have already taken action on their own through www.toyotarecall.org, an unofficial portal for all things on the recall. Toyota, your move.
Photo Credit: diongillard
These Toyota recalls are doing considerable damage to their premium brand. more than 2 million motorcars in the US to correct sticking gas pedals. 4.2 million vehicles in the United States to rectify pedals getting lodged below floor mats. 690,000 motorcars in China faulty electrical window switches. Toyota boss on Television to apologise for recall and still the media flag problems as the company gets more nervous. I wonder how much brand value this has cost them.