Tags: US | Toyota | Consumer | Survey

Survey: Recalls Erode Consumer Confidence in Toyota

Wednesday, 10 Feb 2010 01:05 PM

A consumer survey says Toyota's massive safety recalls are eroding consumer interest in its models and are driving down resale prices of used Toyotas.

The survey by the Kelley Blue Book found that 27 percent of potential car buyers who were considering a Toyota prior to the recall are no longer looking to buy a Toyota.

Of those that defected from Toyota, the Blue Book study found that 49 percent said they are not sure they will consider buying from the automaker again.

Toyota has recalled millions of vehicles in recent months over problems with gas pedals and brakes.

The Blue Book estimates that the resale value of cars affected by the Toyota recall will fall an additional 1.5 percent on top of the 1 percent to 3 percent decline it forecast last week.

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