Hamburg - Toyota's
recall debacle could cost the Japanese carmaker billions of dollars in
compensation claims, the lawyer handling
Toyota lawsuits in the
United States told the German Financial Times on Friday.
Tim Howard, who is coordinating lawsuits over Toyota's
safety problems in the US, told the paper that the claims ran into double- digit billion figures.
The carmaker has recalled more than 8 million cars in recent months over safety problems thought to have been caused by loose floor mats and sticking accelerator pedals.
Toyota has estimated the damage at around 2 billion dollars (1.4 billion euros), but other sources have estimated potential costs at 24 billion dollars, the newspaper reported.
Claimants are accusing the carmaker of not having solved technical problems soon enough and of concealing the risks. At least 30 deaths and 100 injury victims have been blamed on acceleration and braking defects.
Toyota owners were also suing the carmaker over the loss in value of their vehicles, while dealers and car rental companies were seeking compensation for a drop in sales. Shareholders have also seen the value of their holdings plummet.
It remained unclear to what extent Howard and his colleagues would be able to bundle the lawsuits. US judges are expected to decide on legal procedures on Thursday, after more than 80 claims have been submitted in 40 federal states.
The incidents have dealt a massive blow to the carmaker's reputation for quality and reliability.
