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Toyota Shares Plummet on Stock Market as Automaker Loses R$ 79 Billion in Market Value: Fraud Scandal Involving Yaris Cross and Corolla Destroys Credibility of World’s Largest Car Manufacturer

Written by Flavia Marinho
Published on 15/06/2024 at 04:04
Updated on 15/06/2024 at 16:07
toyota - yaris cross - corolla - suv - motor - fraude - carros da toyota - acoes da toyota - bolsa de valores
Toyota, a maior fabricante de carros de mundo também é vencedora em polêmicas: montadora anunciou a suspensão das produções e vendas do Corolla Fielder, Corolla Axio e Yaris Cross.
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Toyota, The Largest Car Manufacturer In The World Also Wins Controversies: Automaker Announced The Suspension Of Production And Sales Of The Corolla Fielder, Corolla Axio And Yaris Cross.

Toyota, The Largest Automobile Manufacturer In The World Has Been Facing A Slippery Path Since The End Of May. Following The Revelation That The Company Used Falsified Data In Safety Tests, Toyota’s Stock Fell Over 5.4%. This Controversy Has Already Resulted In A Loss Of US$ 15.62 Billion For The Company (About R$ 79 Billion).

Since January, Japan’s Ministry Of Land, Infrastructure, Transport And Tourism Has Been Investigating The Automaker And Found That Toyota Modified Vehicles Used In Crash Tests. With The Release Of The Report On The Falsifications, Toyota Announced The Suspension Of Shipments And Sales Of Three Models Manufactured In Japan: Corolla Fielder, Corolla Axio And Yaris Cross.

Toyota President Akio Toyoda Admitted Fraud In The Tests Of The SUV Yaris Cross And Corolla

Toyota President Akio Toyoda Admitted That Seven Models Of The Company Were “Tested By Methods Different From The Standards Established By National Authorities.” Toyoda Also Apologized To The Brand’s Consumers And Investors. “As The Head Of The Toyota Group, I Would Like To Apologize To Our Consumers, Car Enthusiasts And All Our Shareholders For This,” Said Toyoda.

The Scandal Increases Pressure For Toyota’s General Meeting, Which Takes Place At The End Of This Month. The Consultancies Glass Lewis And Institutional Investor Services Have Recommended That Shareholders Vote Against Toyoda’s Reelection As President.

On Monday Morning (10), The Company Was Attempting To Recover Losses, With A Gain Of 0.89% In New York, At 12 PM.

Caught Red-Handed: Honda, Yamaha Motor, Suzuki Motor And Mazda

Toyota Was Not The Only One Involved. The Japanese Government’s Report Also Pointed Out Irregularities In The Certifications Of Honda, Yamaha Motor, Suzuki Motor And Mazda.

The First Three Were Found With Fake Data In Vehicle Tests, While Mazda, Just Like Toyota, Altered The Test Vehicles. The Manufacturer Suspended The Roadster RF And Mazda 2 Models.

The Japanese Ministry Of Transport Announced That It Would Carry Out On-Site Inspections At The Five Companies Where The Fraud Occurred.

The Week Following The Announcement Of The Fraud, Honda’s Stock Fell 5.75% In New York, While Yamaha Motor Experienced A 2.2% Decline.

On Monday, Honda Was Seeking Recovery, With Its Stock Trading Up 1.27%, Around 12 PM, In New York.

Toyota: The Largest Car Manufacturer In The World Also Wins Controversies

In 2023, Toyota Left Its Competitors Behind And Became The Largest Car Manufacturer In Terms Of Sales. The Company Reported 11.2 Million Vehicles Sold In The Last Year, Surpassing Volkswagen, Its Main Rival, By A Margin Of 2 Million.

Despite Leading The Market, Toyota Has Faced A Series Of Allegations. In January, The Automaker Was Involved In A Fraud Scandal Regarding Diesel Engine Certification Tests Aimed At Achieving Higher Power And Torque Numbers.

In December, Daihatsu, A Subsidiary Of Toyota Industries, Also Admitted To Falsifying Safety Test Results. According To The Statement, The Subsidiary Had Been Committing Frauds For Over 30 Years. The Investigation Found Issues In 64 Models, Which Had Shipments Suspended.

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18 Comments
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Pedro
Pedro
17/06/2024 21:53

Isso se chama interversão do estado na economia… do governo socialista de Ichida.

José Augusto Medeiros
José Augusto Medeiros
Reply to  Pedro
18/06/2024 01:17

É a Hyundai deixando a Toyota desesperada! Uma vez um diretor da empresa falou, como temia um futuro concorrendo com a Hyundai.

Paulo
Paulo
17/06/2024 14:14

Trabalhei por 30 anos nessa Empresa,e infelizmente todo nosso esforço e dedicação que tivemos por ela não foi reconhecido,pois tivemos nossos direitos Fraudados por ela em conjunto com o Sindicato dos Metalúrgicos de SBC,onde fomos obrigados a assinar um acordo que só beneficiava a própria Empresa, um acordo de PDV fraudulento ,mandando embora pessoas doentes,com problemas sérios de saúde e com câncer entre outras coisas.
Fica aqui meu desabafo e minha indignação com toda essa situação.

Eduardo
Eduardo
17/06/2024 12:57

Isso é apenas uma das inúmeras fraudes cometidas por essa empresa, só pensam em lucro, pregam o respeito ao funcionário e a natureza mas na realidade passam por cima de qualquer um para lucrar, até fraudar demissões sem pagar PDV em São Bernardo do Campo eles fizeram!

Flavia Marinho

Flavia Marinho is a postgraduate engineer with extensive experience in the onshore and offshore shipbuilding industry. In recent years, she has dedicated herself to writing articles for news websites in the areas of military, security, industry, oil and gas, energy, shipbuilding, geopolitics, jobs, and courses. Contact flaviacamil@gmail.com or WhatsApp +55 21 973996379 for corrections, editorial suggestions, job vacancy postings, or advertising proposals on our portal.

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