Toyota's reputation takes big consumer hit, other automakers recover
6 May 2011
The auto industry has been through a lot since 2009, but it appears that consumers have a lot more confidence in the industry two years later. Brand and marketing consultancy Prophet polled 4,900 U.S. consumers about 145 Fortune 500 companies from 18 different sectors, and the numbers reveal that most automakers are more highly regarded now than in 2009.
BMW and Honda lead the pack, as both automakers ranked in the top 50 overall brands. Ford finished with a score of 60, which is up from 72. General Motors made a big leap from 123 to 85, in part because of new technology like the Chevy Volt.
Those are all good stories, but then there is Toyota. The Japanese automaker, which was saddled with the recall of over 10 million vehicles for floor mat and gas pedal issues, dropped all the way from number 18 to number 139. That number hasn't exactly resulted in horrible sales totals for Toyota, but there is little doubt that demand has softened a bit for the brand.