Monday, September 23, 2019

Product Liability Lawsuit against Toyota Research Paper

Product Liability Lawsuit against Toyota - Research Paper Example They confessed the problem into the design and announced to get the vehicles back. It was a product safety issue which had to be faced by a world top class car manufacturer. The negative propaganda was started and then it was then investigated by internal as well as external experts. Â  After the examination of the various samples, it was no more a doubt that the design was faulty in real. It was a mega decision to call it back (Product Safety Civil Penalties Improvement Act, 2007). It brought billion dollars loss for the owners. A total of 10 million vehicles across the globe faced the same problem and this was strictly called into action. The company had to pay $50 million for the record fines and is facing several lawsuits and the huge question mark on the credibility of the company. In the class-action lawsuits, there were claims of over $100 million dollars and the market value went down by $30 billion. However, that was not a time to blame anything. The reputation of Toyota motors was rapidly gone down in a few weeks. After the announcement of taking the vehicles back, the experts analyzed the scenario according to their own judgment and available information. Some of the critiques even revealed that it was a deliberate publicity stunt. Whatever it was, bu t Toyota motors evident the history with a unique case which was never before. Â  

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