How Will Huge Toyota Recall Affect its Resale Values?

Toy­ota is deal­ing with the sec­ond largest recall in auto his­to­ry – 7.4 mil­lion now com­pared to eight mil­lion for Ford in 1996. There are a few indi­ca­tions Toy­ota could come out on sol­id foot­ing in brand image and resale val­ue fol­low­ing this recall:

  • It’s new vehi­cles sales are very strong this year. Toy­ota took its crown back as the world’s best-sell­ing automak­er in the first half of this year. Sales in Chi­na have been hurt for Toy­ota and oth­er Japan­ese mak­ers due to protests from an age-old Chi­na-Japan ter­ri­to­r­i­al dis­pute, but Toy­ota hasn’t been sin­gled out.
  • Resale val­ues have come back for Toy­ota with both Toy­ota and Lexus win­ning the brand resale val­ues at the 2012 Kel­ley Blue Book awards. It also helped that the brands took five awards in the 2012 J.D. Pow­er Ini­tial Qual­i­ty Study, more than any oth­er automak­er.
  • Large recalls make the most sense today. Automak­ers save mon­ey by using com­mon parts when­ev­er pos­si­ble even though the recall may sound over­whelm­ing at first, Edmunds.com’s John O’Dell said.
  • Proac­tive recalls are bet­ter than reac­tive ones. Automak­ers have learned from past mis­takes, par­tic­u­lar­ly Toy­ota, and the stig­ma of recalls seems to be get­ting cast aside, said Karl Brauer, founder of TotalCarScore.com.


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