Toyota CEO Holds News Conference in Beijing

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Toyota Motor Corp President Akio Toyoda offered a sincere apology to Chinese consumers over its massive global recall.

Toyoda says consumers in China need not worry about the Prius or Lexus brands, as the faulty parts behind the recalls on those models are not being used in China.

[Akio Toyoda, Toyota President & CEO]:
"I would like to apologize from the bottom of my heart for the worries that we have caused to the people around the world, including China, for the recent recalls. I'm very sorry."

Toyota's China woes have been relatively limited so far, with the company recalling more than 75-thousand RAV4 vehicles there due to faulty accelerators.

Toyoda stressed that he valued the company's customers in the world's fastest growing economy.

[Akio Toyoda, Toyota President & CEO]:
"For Toyota, the customer is always the priority. For the consumers who use our cars, safety is the utmost importance. Considering the strategy that we are about to announce, the strategy goes back to the fact that the customer is always the priority."

Toyoda was grilled by U.S. lawmakers last week for a series of recalls that have tarnished the carmaker's brand and reputation for quality, particularly in the United States, its largest market.

Toyota has recalled more than 8.5 million cars globally for unintended acceleration and braking problems, in a widening safety crisis that broke about a month ago. The bulk of the recalls are in the United States.

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