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March 10th, 2010
05:00 PM ET

Less likely to buy foreign car after Toyota scandal?

FROM CNN's Jack Cafferty:

Finally some good news for Detroit. With Toyota recalling more than eight million vehicles worldwide - a new poll out suggests that fewer Americans are set on buying foreign cars.

The Gallup Poll shows just six percent of those surveyed say they would only consider foreign brands when buying a car. That number is down from 15 percent in December 2008, when the government first considered a bailout of the U.S. auto industry.

Meanwhile the percentage of people who would consider only American cars stands at 36 percent.

Young adults represent the biggest drop in a preference for foreign cars. 18-to-34-year-olds used to be the most likely to say they would only buy foreign cars. Also young adults are now much more likely to say they would only consider American brands. And that's a good sign for the so-called Big 3 American car manufacturers - since these people will be buying cars for many years to come.

The Gallup poll also finds older adults are the most loyal to U.S. car companies.

There could be many reasons why people are less interested in buying foreign cars these days - from safety issues at Toyota to a renewed support for American makes after the bailout.

But whatever is behind the trend, new car sales at Ford, Chrysler and GM were all up last month compared to a year ago - when the industry was on the brink of collapse.

Here’s my question to you: In light of the Toyota scandal, are you less likely to buy a foreign car?

Interested to know which ones made it on air?

FULL POST


Filed under: Toyota recall
February 4th, 2010
05:00 PM ET

Would you buy a Toyota?

FROM CNN's Jack Cafferty:

It's the Tiger Woods of car companies. Never has a company with such a sterling reputation managed to totally trash it in a matter of a few weeks.

Toyota is recalling eight million vehicles in the U.S., Europe and China, and has been ordered to investigate the brake system by Japanese government.

Toyota is recalling eight million vehicles in the U.S., Europe and China, and has been ordered to investigate the brake system by Japanese government.

Toyota is now recalling more than eight million vehicles worldwide for gas-pedal related issues... and this number could go even higher now that there's a formal government investigation into braking problems for the hybrid Prius.

The recalls in the U.S., Europe and Asia are due to several problems - including millions of cases where accelerator pedals can get stuck in floor mats; and millions more where gas pedals become sticky as they wear - and then don't come all the way back up when the driver takes his foot off the pedal. Some cars have both problems.

As for the Prius, while it's not one of Toyota's top-selling cars, it is the best-selling hybrid in the industry.

The Japanese automaker estimates the cost of this global recall could be as high as $2 billion - including the loss of 100,000 vehicle sales in the U.S. and Europe. This is a company that had an excellent reputation for quality and reliability. In 2008, it overtook General Motors as the world's biggest car maker.

But that reputation is gone - with millions of car owners scared, very scared... The car maker has shut down several new vehicle assembly lines and is rushing parts to dealers to fix the accelerator problems. And Toyota will have to face questions, lots of them, from Congress and other government investigators.

Meanwhile many consumer groups are asking if the gas pedal fix will even work.

Here’s my question to you: Would you buy a Toyota?

Interested to know which ones made it on air?

FULL POST


Filed under: Toyota recall