Kelley Blue Book lowers Toyota resale values

The Blue Book value of used Toyotas has been reduced again as the Japanese carmaker’s troubles persist.

Kelley Blue Book said Monday it was lowering the resale value of recalled Toyotas for the second time in less than a week. That leaves the cars’ value an average of 3.5 percent lower than a week ago, with further cuts still possible.

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Comment by Sara Paxton on February 9, 2010 at 3:39pm: It is a good indication of how quickly an anti brand campaign can become viral in this day and age. I commend Toyota for taking the steps they have, but it will take a long time to regain credibility with their consumers. It's not just traditional media sensationalizing the issue. It's obviously gained traction in the social space as well. As a result, there are brand evangelists weighing in to defend Toyota and people weighing in on the sheer impact of the safety issues presented. The sensationalism in the social space could very well help save the big brand.

Comment by Jeanne Silver on February 9, 2010 at 3:09pm: One of our customers mentioned this yesterday and was not too happy. Said most likely would not purchase a Toyota again. It is going to be difficult for Toyota to recover from all the bad press.

Comment by Bill Fowler on February 9, 2010 at 11:14am: I think the thing that amazes me most about this Toyota reall thing is the journalistic sensationalism that we Americans seen to thrive on. No one ever stops to consider the untold millions of vehicles Toyota has sold in this country and can anyone tell me of any other recall in the forty plus years they have been selling cars here involving Toyotas? How many recall related accidents have been reported relative the number of allegedly affected vehicles? Has anyone stopped to take into consideration that the part failure leading to this recall was made in America, not Japan?
By comparison, can anyone remember how many recalls there have been involving American made vehicles? Remember the Explorer rollover thing or the General Motors truck exploding fuel tank thing, or the Corvair debacle? Did they get trampled on in the same way that Toyota is being trampled on now? No, they weren't; not to the same degree. This is sensationalism, pure and simple.
Amazing isn't it that a government agency, part of the same government that has gone into the car business , is exposing all these so-called safety issues, denegrating the competition to their advantage. We should be smart enough not to fall for all the B.S. but unfortunately, we are not.