Toyota CEO Grilled by U.S. Congress
- 15 years ago
In a Congressional hearing that attracted media from all over the world, Akio Toyoda, the president of Toyota Motors publicly apologized for a series of safety-related recalls that have threatened the carmaker's reputation.
[Akio Toyoda, President, Toyota Motor]:
"In the past few months, our customers have started to feel uncertain about the safety of Toyota's vehicles, and I take full responsibility for that."
Toyota's safety issues have led to the recall of more than 8.5 million vehicles and have been blamed for at least five American deaths.
Mr. Toyoda, whose grandfather founded the auto company, said the auto giant may have pursued growth over quality control.
[Akio Toyoda, President, Toyota Motor]:
"I regret that this has resulted in the safety issues described in the recalls we face today, and I am deeply sorry for any accidents that Toyota drivers have experienced."
Toyoda got some tough questions from members of both parties of the House Oversight and Government Reform Committee.
[Elijah Cummings, U.S. Congressman]:
"Why should we believe that things are gonna get better?"
[John Mica, U.S. Congressman]:
"Toyota has an outstanding reputation and actually has had a great safety record. But this discredits everyone. How would you respond sir?"
Akio Toyoda vowed to improve his company's quality control system and promised to work closely with its customers as well as U.S. regulators.
[Akio Toyoda, President, Toyota Motor]:
"My name is on every car. You have my personal commitment that Toyota will work vigorously and unceasingly to restore the trust of our customers."
Restoring Toyota's once gold-plated reputation for quality is something that also concerns Toyota's shareholders. Shares in Toyota have lost about a fifth of their value since mid-January, when it expanded its recall to deal with sticking accelerators.
[Akio Toyoda, President, Toyota Motor]:
"In the past few months, our customers have started to feel uncertain about the safety of Toyota's vehicles, and I take full responsibility for that."
Toyota's safety issues have led to the recall of more than 8.5 million vehicles and have been blamed for at least five American deaths.
Mr. Toyoda, whose grandfather founded the auto company, said the auto giant may have pursued growth over quality control.
[Akio Toyoda, President, Toyota Motor]:
"I regret that this has resulted in the safety issues described in the recalls we face today, and I am deeply sorry for any accidents that Toyota drivers have experienced."
Toyoda got some tough questions from members of both parties of the House Oversight and Government Reform Committee.
[Elijah Cummings, U.S. Congressman]:
"Why should we believe that things are gonna get better?"
[John Mica, U.S. Congressman]:
"Toyota has an outstanding reputation and actually has had a great safety record. But this discredits everyone. How would you respond sir?"
Akio Toyoda vowed to improve his company's quality control system and promised to work closely with its customers as well as U.S. regulators.
[Akio Toyoda, President, Toyota Motor]:
"My name is on every car. You have my personal commitment that Toyota will work vigorously and unceasingly to restore the trust of our customers."
Restoring Toyota's once gold-plated reputation for quality is something that also concerns Toyota's shareholders. Shares in Toyota have lost about a fifth of their value since mid-January, when it expanded its recall to deal with sticking accelerators.