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Kbb.com Study: Toyota Brand Consideration, Vehicle Interest Dramatically Drops Following Recall
February 3, 2010According to the latest Kelley Blue Book www.kbb.com Market Intelligence data, Toyota consideration and interest has dramatically dropped since the company recently announced its massive recall. More than 20 percent of those who said they were considering a Toyota prior to the recall now say they no longer are considering the brand for their next vehicle purchase. In addition, Toyota's overall brand consideration dropped to third-place and now trails its domestic rivals, first-place Ford and second-place Chevrolet. When comparing Toyota consideration in Kelley Blue Book Market Intelligence's Brand Watch survey from the days prior to the recall to the days following the recall announcement, consideration dropped nearly half, from 29 percent to just 18 percent. In addition, the Brand Watch data showed a drop in Toyota's perceived safety rating from 8.4 to 7.6. Full release.