Over the past year we’ve seen and heard a lot about how Toyota has spent millions and millions of dollars with their massive recall.
We’ve also heard how the Japanese have even payed fines and penalties worth several more millions and now we find the whole thing hasn’t really affected them.
Don’t get me wrong, nobody gets over nearly $70 million in losses that easily but the loss is more of a psychological thing.
As a raft of recent reports are telling us, despite all the costs and the slight drop in market share and sales figures the Japanese brand still has impressive cash reserves.
So how much can they possibly have after trashing so many millions because of carelessness and refusal to admit a mistake?
Well, we’re told by the Standard & Poor’s Valuation and Risk Strategies group, the hard figures for Toyota’s money reserves come in at more than $48 billion.
Bet you those 70 million spent on the recall and such don’t seem like so much now.
To add insult to injury, according to that rating Toyota has the biggest largest cash reserves of any of the automakers in the industry.
Moving away from the car making industry it turns out that on a global level, Toyota is the second company among all in the world.
