Toyota Motor Corp. is stricken by massive recalls in the U.S. and stalled sales at home, but it is not without a lifeline — big, fast-growing markets like China and Southeast Asia, where drivers seem unfazed by what is troubling consumers in the West.
Toyota could certainly do with a cushion if it's going to keep its pole position in the auto world. Recalls totaling 8.5 million vehicles globally for faulty brakes, floor mats that can entangle the gas pedal and sticking accelerators have battered its once stellar reputation.
Toyota's share of the U.S. market is already nose-diving and a return to profit after big losses from the global recession is imperiled by an estimated $2 billion in recall costs and lost sales.