Toyota Owners Sue for Lost Resale Value
In the wake of multiple recalls of millions of Toyota vehicles, some owners and lessees of the vehicles sued Toyota Motor Corp. in an effort to recoup monthly loan and lease payments while repairs are being made.
But another lawsuit, filed earlier this week, takes the charges a step further. In effect, 10 people in Ohio and Kentucky have banded together on behalf of all Toyota and Lexus owners —not just those affected by the recalls. Their claim:
“…The harm to Toyota’s reputation is brand-wide and has negatively impacted the value of all Toyota vehicles,” said attorney Justin Sanders, one of four lawyers with the Sanders Law Firm that filed the lawsuit in U.S. District Court in Covington, Kentucky.
In backing the claims, Sanders cited drops in Kelley Blue Book and NADA used-car values.
“In the wake of the news reports about this serious problem, Toyota customers and general public are extremely skeptical about the quality and safety of Toyota vehicles,” according to the lawsuit. “The entire fleet of Toyota vehicles has been stigmatized by this defect, regardless of which vehicle models and model years have been included in the recalls.”
Thoughts, anyone?
