1st
Mar
2010

Spit and Hope

Posted by Admin

The President of auto manufacturer Toyota Motor Corp. issued a apology on behalf of the company Monday to Chinese consumers, whom the company depends upon heavily. They make up a very large and important market to Toyoto, if only because of proximity and population.

Despite troubling recalls in recent months, Toyota reiterated it’s sales goal in China for 2010, 800,000 units. That is a tall order for a company which has suffered massive damage to its public brand.

In January, the auto maker issued a recall notice for 75,552 RAV4 sport-utility vehicles in China. The company is recalling 8.5 million vehicles worldwide for problems including unintended acceleration related to gas pedal flaws.

Mr. Toyoda reiterated that the RAV4 is the only model in China affected by gas pedal flaws.

We’ll see if those sales predictions hold up. My grandfather used to tell me, “You can spit in one hand and hope in the other–I’ll tell you which one fills up faster.”