Former, Current Toyota Owners Suing for Lost Resale Value

Toyota took a media beating over the last few years when the unintended acceleration phenomenon hit the news. And even though the National Highway Traffic Safety Administration (NTHSA) has exonerated the Japanese automaker, former owners of Toyota vehicles are now suing for “pure economic loss” from all of the negative press.

These former Toyota owners are claiming that the Japanese automaker owes its customers the difference between what the cars were worth before people started crashing their vehicles due to (alleged) unintended acceleration, and what they’re worth now.

Judy Veitz is one of those former Toyota owners, having owned a Prius that she experienced no issues with but is currently filing a lawsuit in California federal court that may change the way our legal system views economic loss cases.

It appears that Toyota owners who have sold their vehicles have been giving the nod to proceed with their lawsuits, but it’s not a guaranteed win. In fact, the cases are in low-level court so its decision isn’t even definitive. It should only be a matter of time before the higher courts get involved, as these cases could set a new precedent for economic loss lawsuits.

[Source: Car and Driver]