Toyota Recall Update: Toyota Recall Already has Remedy: Toyota Recall Expand in Latin America – With Toyota suspending sales of eight models this week due to flawed gas pedals, dealerships across the country are feeling the pain with lost revenue, panicked customers, and discouraged sales staff.

US Toyota dealers may lose as much as $2.47 billion in combined monthly revenue from the halt in sales of both new and used versions of those models, according to a Bloomberg news report. John McEleney, chairman of the National Automobile Dealers Association and a Toyota dealer, told Bloomberg that each of the 1,234 Toyota dealers in the US could lose out on $1.75 million to $2 million a month in revenue.

“The recall affected 60 percent of our new car business,” Boch says. He estimates January sales will be off 25 percent due to the sales suspension. “Three of our best-sellers have been Camry, Corolla, and RAV4, and all may be affected [by the recall].”

Only 20 percent of the new car inventory at Greg Tufankjian’s Toyota dealership in Braintree, Mass., has been affected by the recall. But that’s enough to throw off his sales.

According to Market Watch report, Toyota Motor Corp.’s  recall over faulty accelerator pedals in Europe could impact up to 1.8 million cars, according to media reports Friday. However, the Japanese automaker has no plans as of yet to halt production in Europe as it has in the United States for the affected models, according to a statement posted on the company’s Web site.

The auto giant is on the verge of announcing a comprehensive recall program for cars that are at risk of a sticky accelerator.

“We have a remedy,” says Celeste Migliori, national manager of business and field communications for Toyota Motor Sales. “We’re finalizing the details of our accelerator pedal-repair program.” It will be released “soon.”

For Toyota owners and dealers, it means that they will finally be able to put an end to more than a week of uncertainty after the automaker had acknowledged the problem but had no solution.

So far, Toyota is recalling about 2.57 million vehicles in the United States and Canada, and around 75,000 units of the RAV4 sport utility vehicle in China, and plans to recall of about 2 million vehicles in Europe, to fix sticking gas pedals.

Separately, the automaker is also voluntarily recalling 5.55 million Toyota and Lexus vehicles, including its popular Corolla and Camry models, in the United States and Canada to reduce the risk of gas pedals getting stuck under loose floor mats and causing sudden acceleration.

More than 10 million vehicles are subject to the recalls over the two separate gas pedal-related problems, although the exact number of overlapping vehicles remains uncertain with the automaker still trying to work out the latest figure. (Kyodo)

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