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Toyota freefall following vehicle recalls

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Tue, 09/02/2010 - 15:37

Unsurprisingly the Toyota brand has been tarnished by its recent series of recalls and its failure to react quickly to address the serious concerns of consumers and the government about the safety of its vehicles. Just how far the brand has fallen in such a short period of time is highlighted below. Going back to January 2008, the Toyota brand has consistently ranked among the top automotive brands tracked in BrandIndex and the top 10% of ALL brands tracked over the last two years.

Since late January 2010, when the car manufacturer announced a recall of several million vehicles across the world, its brand perception scores have dropped dramatically. Figure 1 plots the overall Index (average of Quality, Value, Satisfaction, Recommend, Impression and Corporate Reputation) scores for Toyota in the UK, USA and Germany over the past three months, with the brand in a near freefall over the past ten days in all three markets.

Toyota Index scores last 3 months (1 week rolling average)
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