Toyota is arguably one of the best companies to work for but that does not mean it is immune to blunders. Time and again, the company has been forced to recall its vehicles mainly due to the erroneous technical installations, engineering fixes and safety risks.
In the latest news, the company says it will recall 3.8 million vehicles in the United States after identifying problems with the removable floor mat with could lead to an eventual crash. It will be Toyota’s largest recall in the history of its US operation. The previous largest recall was in 2005 involving some 900,000 vehicles due to steering problems.
The recall affects a range of models including Toyota Camry, Avalon, Prius, Tacoma, Tundra and the Lexus series.
From a humble beginning, Toyota has come a long way to become one of the most prominent companies not only in its native country Japan but has today earned respect worldwide. It is a symbol of hardship, persistence and never-say-die attitude synonym to the famous Japanese values.
But just like any other carmakers, Toyota was also struggling during the recession, especially when Japan became the second country in Asia to plunge into recession after Singapore. The company had to impose temporary shut downs for its factories in Japan due to lack of orders, and recorded one of its worst losses at the beginning of year 2009.
At the height of its success, Toyota took over as the world’s largest automaker from General Motors (GM) a few years back after trailing in the latter’s shadows for almost a decade.
A study by Reputation Institute in New York found Toyota to be the World’s Most Reputable Company for the year 2008, ahead of Google, Ikea, Ferrero and Johnson & Johnson.
Toyota was also named by Fortune as the 5th largest companies in the world behind Wal-Mart, ExxonMobil, Shell and BP in 2008.