Toyota’s recent troubles have worsened. The company has recalled millions of cars in the United States, Europe and China because of potentially faulty accelerator pedals. They have tried to assure customers that it could fix the problem by inserting a metal bar into the pedal’s mechanism. A snag also emerged with the braking system on its Prius model. The cost of the recall is estimated at $2 billion.
There was a sharp drop in Toyota’s sales in the United States in January. This proved to be a blessing for other carmakers, particularly for Ford, which saw sales rise by 24% in January compared with a year earlier. Ford recently reported a $2.7 billion annual profit, its first since 2005.
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