Feb 24, 2010

Toyota president apologizes for growing too big too fast

Toyota's president says the company compromised quality by growing too quickly in the United States.

Toyota President Akio Toyoda will appear before the House Oversight and Government Reform Committee on Wednesday.

Toyota's president will tell Congress that the automaker grew too quickly in recent years, at times pursuing sales volume over safety and quality.

In a prepared statement he said the company plans to establish a quality center in the U.S. and hire an executive focused on product safety.

Too little, too late? Is Toyota finally planning to lock the barn after all the horses ran off?