Bogus Lawsuit CostsToyota 1 Billion $

[bronsin]

This is the same BS that cost Audi billions of dollars and its share of the US market in the early 90s. Now its happening to Toyota.

Its not possible for a FI engine to "accelerate all by itself" yet somehow its going to cost Toyota a billion dollars!

http://www.foxnews.com/politics/2012...est=latestnews

[Billiam]

Seems odd to me that a company can be held liable for the future value of a product they produce. There is nothing in a buyer's contract that quarantees what a vehicle will be worth at some point down the road. Even if it was a leased vehicle the residual value is pre-determined at the beginning of the lease and the lessee assumes no responsibility if the value drops.

[bronsin]

Its the lawyer biz cuz.

And we's payin'!

[fnkngrv]

Total BS for sure. I actually refinanced my Yaris two times during the interval in which they are discussing 09/10 as well as almost traded it in on another car so I know how much the car was truly worth. The value of my car did NOT drop. IF folks received less on a trace or sale during this time because of the supposed acceleration fiasco then that was because of their own stupidity when dealing with dealers and private buyers IMHO. There are suckers born everyday and you have to love how they seem to pull the wool over so many eyes when they make bad choices or decisions. This is just like the deal back in the day with the lawsuit about coffee being hot and the cups not being labeled as such.

[Bluevitz-rs]

Originally Posted by fnkngrv

This is just like the deal back in the day with the lawsuit about coffee being hot and the cups not being labeled as such.

There's an episode of Seinfeld right there LOL.

[DMZ]

I bought a base '05 Tacoma in 2006 for $15K. Two years and 32K miles later I totaled it after hitting black ice and sliding into a rock cut bank. The insurance adjuster offered $14,750 for it. $250 depreciation! I took the money and put it down on a Tundra.

I had a recall notice in my desk for the vehicle awaiting me to make an appointment at the dealer.

If I was a crook, I could have claimed the throttle stuck and I hit a icy spot, totaling the truck. Probably would have got a new Tacoma +$$$'s from Toyota. Not my style.

[Billiam]

Originally Posted by DMZ

I bought a base '05 Tacoma in 2006 for $15K. Two years and 32K miles later I totaled it after hitting black ice and sliding into a rock cut bank. The insurance adjuster offered $14,750 for it. $250 depreciation! I took the money and put it down on a Tundra.

I had a recall notice in my desk for the vehicle awaiting me to make an appointment at the dealer.

If I was a crook, I could have claimed the throttle stuck and I hit a icy spot, totaling the truck. Probably would have got a new Tacoma +$$$'s from Toyota. Not my style.

Actually...Toyota would've pulled info on brake and throttle application from "The Box"...as they started doing soon after this whole debacle began. You made the right choice....being honest.

[fnkngrv]

Originally Posted by Billiam

Actually...Toyota would've pulled info on brake and throttle application from "The Box"...as they started doing soon after this whole debacle began. You made the right choice....being honest.

To elaborate on that "The Box" also records top speed reached as well as how many times/often it occurs. This will enable Toyota to dispute certain failure claims as abusive utilization of the vehicle. A buddy of mine found that out a couple months back when he took his 2012 Tundra TRD Sport packaged truck down the course at the land speed runs for grins. He hit the fuel cutoff at roughly 125mph and bounced off it several times in the 1.5 miles. He took the truck in for his complementary oil change and asked how that whole thing works and was educated on what manufacturers are doing to protect themselves now. He was told that if the engine failed that he would most likely have not been able to have it covered since he ran it the way he did. Good food for thought.

[edmscan]

I just think that it is BS .. as some people are just trying to get rich off of Toyota cause they are seen to have lots of money.

But don't worry Toyota will make that money back .. on the backs of people that buy their cars. So really we all are paying for some peoples greedyness.

[tk1971]

My impression from the various articles, was that this settlement collectively addresses not just the sudden acceleration cases blamed solely on the electronics, but the floor mat and accelerator pedal mechanism issue too. The latter two are mechanical issues with a physical manifestation. While the avalanche of lawsuits is likely a product of greed and mass hysteria, I wouldn't necessary discount ALL of the accidents/deaths as operator error. Just playing devil's advocate...

[fnkngrv]

^ dude....the bulk of the floormat fiasco was from idiots that stack their mats. just sayin that pretty much wipes away the whole floormat argument with the argument that allowing idiots to have keys to cars is the norm not the exception. Just for the record as well my ex-wife and I got into an argument about the whole stacking mats deal a few years back when our marriage was just peachy keen...told her she was being stupid too. Leaving your other mats in and stacking is just pure laziness.

[nookandcrannycar]

Originally Posted by fnkngrv

Total BS for sure. I actually refinanced my Yaris two times during the interval in which they are discussing 09/10 as well as almost traded it in on another car so I know how much the car was truly worth. The value of my car did NOT drop. IF folks received less on a trace or sale during this time because of the supposed acceleration fiasco then that was because of their own stupidity when dealing with dealers and private buyers IMHO. There are suckers born everyday and you have to love how they seem to pull the wool over so many eyes when they make bad choices or decisions. This is just like the deal back in the day with the lawsuit about coffee being hot and the cups not being labeled as such.

^^^^^ This. One of the reasons (IMO, and I know in the opinion of a fair number of others) we have the number of lawsuits filed that we do in the U.S. is that we haven't historically followed the concept of 'Loser Pays' re lawsuits. Quite a few other developed countries have 'Loser Pays' re lawsuits. 'Loser Pays' means that if you file a lawsuit, and you lose, you have to pay the legal fees of the party you sued in addition to your own. Here in Texas, 'Loser Pays' legislation passed the state legislature and was signed into law in 2011 (I just love this state!). This was accomplished even though Texas trial lawyers spent 13 million dollars attempting to defeat the proposal. I don't know if any other states have done this. I also don't know if obtaining class action certification (as the 'hot coffee' suit did) for a lawsuit would invalidate or change the implementation of 'Loser Pays' or not for such cases (I would hope it wouldn't).

Whenever I hear about the results of a class action lawsuit, it almost invariably seems as though the plaintiffs in the class aren't getting much and the attorneys are, IMO, overpaid. A talking head on one of the financial channels today said the attorneys were to get over 300 million of the Toyota settlement. A few minutes later (after being handed a sheet of paper) this was corrected to a bit over 200 million going to 85 attorneys in I can't remember how many firms. Still too much, IMO (even though some of the plaintiffs in this case seem to be better taken care of than in some other suits I've heard about).

[nookandcrannycar]

Originally Posted by Billiam

Actually...Toyota would've pulled info on brake and throttle application from "The Box"...as they started doing soon after this whole debacle began. You made the right choice....being honest.

How I feel about 'The Box' has changed over the years. I read my owners manual carefully when I first purchased my new Yaris and I didn't like the description of 'The Box'. Too Orwellian...I was p****d off. I have since made peace with it. I still think in is too Orwellian, but I now look upon it as partial proof of my safe driving.

[Billiam]

Originally Posted by nookandcrannycar

How I feel about 'The Box' has changed over the years. I read my owners manual carefully when I first purchased my new Yaris and I didn't like the description of 'The Box'. Too Orwellian...I was p****d off. I have since made peace with it. I still think in is too Orwellian, but I now look upon it as partial proof of my safe driving.

Toyota (like many other companies) has been forced to find ways to protect it's self from bogus claims. So many of these SUA claims were debunked after "The Box" was analyzed.

[nookandcrannycar]

Originally Posted by Billiam

Toyota (like many other companies) has been forced to find ways to protect it's self from bogus claims. So many of these SUA claims were debunked after "The Box" was analyzed.

I know, you're right. I'm just too idealistic. The fact that we live in a society where cameras are needed to help deter people from stealing and doing other things wrong is, IMO, pathetic. I spent a fair amount of time in Scandinavia earlier in my life (especially in Sweden) and I remember it being more like the way I wish things would be here, now (the nature of goodness part....not the so called cradle to grave part. I don't think the two are, by necessity, related) . I haven't been there since just before 9/11. I've read that much has changed (irrespective of 9/11). Being, in a few ways, a 'disappointed idealist' forced to be a realist probably stokes the cynical view I have toward some things.

[bronsin]

As a motorcyclist I want every single one of those other people sharing the road with me driving cars to have boxes up their ying yang. The more boxes and camera the better! Ive past the point where I could do something to kill myself on a mc. Its far more likely someone driving a car will do it for me. If it happens.

When cheapo video cameras came out I had one on my bike. Theres a video of me on utube almost getting killed by a white Tuarus making a left hand turn from the right hand lane.

I saw it coming. Dingbat was just sitting there in the right lane no brake lights no turn signals not moving. I have a rule. If they do one stupid thing they will do another stupid thing! Or three or four of them!

[nookandcrannycar]

Originally Posted by bronsin

As a motorcyclist I want every single one of those other people sharing the road with me driving cars to have boxes up their ying yang. The more boxes and camera the better! Ive past the point where I could do something to kill myself on a mc. Its far more likely someone driving a car will do it for me. If it happens.

When cheapo video cameras came out I had one on my bike. Theres a video of me on utube almost getting killed by a white Tuarus making a left hand turn from the right hand lane.

I saw it coming. Dingbat was just sitting there in the right lane no brake lights no turn signals not moving. I have a rule. If they do one stupid thing they will do another stupid thing! Or three or four of them!

^^^^^ Your post provides the impetus for serious questions...Why is it so easy to get a DL in the U.S.? If we had the rigor in any state that they do in Germany re preparing a person to drive legally, would your Taurus driver or anyone else that lacking be able to get a DL?

[bronsin]

Originally Posted by nookandcrannycar

^^^^^ Your post provides the impetus for serious questions...Why is it so easy to get a DL in the U.S.? If we had the rigor in any state that they do in Germany re preparing a person to drive legally, would your Taurus driver or anyone else that lacking be able to get a DL?

Well when you consider we are 16 trillion in debt and counting up fast there you might have your answer.

Im thinking the Germans arent in debt one farthing.

We just arent responsible as a nation.

Its all Seseme Streets fault!