The media has been hyperventilating over safety concerns in Toyota vehicles, presumably for our sake. Now that the government owns and runs GM, I cannot take this news without suspicion.
Austrian Economist Patrick Barron said it best:
The U.S. government owns General Motors and now it gets to sit in judgement of GM’s most successful rival, punishing it and waging a public relations campaign to malign Toyota’s products. Sounds like another great way–in addition to the “Cash for Clunkers” program–for the government to provide a backdoor subsidy to its captive company and its union supporters.
Toyota’s Troubles Deepen
Toyota Motor Corp.’s quality crisis deepened Tuesday, as U.S. regulators accused the company of dragging its feet on fixing defective gas pedals and threatened civil penalties and further reviews of Toyota products.
The move means that Toyota’s efforts to address its biggest-ever safety and public-relations mess are far from over. Last week, the administration indicated it had no issues with how Toyota had responded to the sudden-acceleration reports, which led the company to recall about six million vehicles and have been linked to at least five fatalities.
“While Toyota is taking responsible action now, it unfortunately took an enormous effort to get to this point,” Secretary of Transportation Ray LaHood said Tuesday in a statement. “We’re not finished with Toyota and are continuing to review possible defects and monitor the implementation of the recalls.”
Mr. LaHood said Transportation Department officials flew to Japan in December to meet with Toyota executives and remind the company “about its legal obligations.”
Toyota woes mount as gov’t examines Prius brakes
Toyota faced mounting pressure Thursday as the government opened a probe of brake problems with the Prius, a crown jewel of its lineup. The beleaguered automaker said it was “too soon” to decide whether to add the hybrid to the millions of cars it has recalled.
. . . . The National Highway Traffic Safety Administration said it would assess the scope of the problem and the safety risk to about 37,000 cars that could be affected.