Toyota's 'Customer Satisfaction Campaign'

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You're watching multisource business news analysis from Newsy Toyota says - it’s not a recall. The Japan...
You're watching multisource business news analysis from Newsy Toyota says - it’s not a recall. The Japanese automaker announced that more than 600,000 Prius’ made from 2004 to 2007 have cooling pump problems which need to be fixed. The media is quick to point out Toyota’s history of problems – and is questioning the company’s latest term for the fix: a “customer satisfaction campaign.” “Toyota has announced another major fix, but insists that it’s not a recall.” (ABC) “The automaker making it clear – this is not another recall.” (Fox Business) Anchor: “…instead it is a customer satisfaction campaign. Since late last year Toyota has recalled about 11 million vehicles for various problems.” Anchor: “Customer satisfaction Kathy what is that?” Anchor: “Yes they want to make sure you are satisfied with your pump.” (KTTV) Ahh – it’s a customer satisfaction campaign. A writer for autoevolution isn’t buying it. “Toyota's UK division came up with a name which makes you feel all warm and fuzzy inside: Customer Satisfaction Campaign. … To get satisfied (you know, pun not intended), you will need to check back with your local dealer.” CBS affiliate KOIN – brings a little bit of optimism noting that at least Toyota will be bucking up for the fix and explains the Prius problem. “The cooling pump, its malfunction can cause the top selling hybrid to lose power and overheat. Toyota is paying for the repair so just call your dealership for an appointment.” Recall, fix, or customer satisfaction campaign – call it what you will. A writer for 24/7 Wall St. says Toyota’s reputation is taking a hit – and the company needs to figure it out. “...the company needs to build its cars better the first time around. A continuing pattern of recalls, voluntary or not, could erode Toyota’s quality reputation. The company would do well to remember that its reputation for quality is what helped it pull through the earlier debacle.” The Wall Street Journal reports sales slipped for the first time in more than a year in Japan – but says all might not be lost. “But the shot of good news is that while the Prius has suffered a drop, so too has the rest of the industry. And despite the slip in demand the Prius is still sitting pretty at No. 1 – for now.” So what do you make of Toyota? Addressing the problem? Or putting lipstick on a pig? Get multisource video news analysis from Newsy Transcript by Newsy