We've all seen the commercials. After a wealthy couple has a spat, the wife walks outside only to find a beaming, bow-adorned Lexus waiting for her in the snow-encrusted driveway.
This Christmas, the rich gentlemen purchasing luxury cars as gifts will now have to drive, foot-in-mouth if possible, back to the dealer.
Toyota Motor today has recalled approximately 250,000 cars worldwide, including more than 34,000 Lexus models in the United States. The company has attributed the recall to a possible defect in the fuel pipes, though made it clear there have not (yet) been related accidents.
It seems investors should be used to recalls this year, especially from Toyota. The company has had string of bad luck (or poor manufacturing) this year, recalling more then 2 million vehicles. In the wake of these inconveniences to both consumers and investors, the equity has pared down more than one-fifth of its worth since March. At last check, the stock seems to be somewhat stagnant, trading up 0.1%.