Toyota Motor Corp's president apologized on Friday for safety problems and said the automaker would bring in outside experts to review quality controls, a highly unusual action for a company that has epitomized world-beating industrial standards.
"I would like to take this opportunity to apologize from the bottom of my heart for causing many of our customers concern after the recalls across several models in several regions," Akio Toyoda, the grandson of Toyota's founder, told a
news conference in Nagoya, Japan.
Toyoda's comments were his most extensive since the latest recall began in January. Toyota has issued two recalls since last November.
Investors were relieved that Toyota finally announced concrete steps to deal with the quality crisis. The company's shares, which have taken a beating recently, ended
4.1 percent higher at $74.71 on the New York Stock Exchange on Friday. Since Jan. 21, Toyota has lost $30 billion or a fifth of its market value.
Source : http://in.reuters.com/article/businessNews/idINIndia-45928520100206
"I would like to take this opportunity to apologize from the bottom of my heart for causing many of our customers concern after the recalls across several models in several regions," Akio Toyoda, the grandson of Toyota's founder, told a
news conference in Nagoya, Japan.
Toyoda's comments were his most extensive since the latest recall began in January. Toyota has issued two recalls since last November.
Investors were relieved that Toyota finally announced concrete steps to deal with the quality crisis. The company's shares, which have taken a beating recently, ended
4.1 percent higher at $74.71 on the New York Stock Exchange on Friday. Since Jan. 21, Toyota has lost $30 billion or a fifth of its market value.
Source : http://in.reuters.com/article/businessNews/idINIndia-45928520100206
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