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Toyota vehicle residual values slipping, report says

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Toyota vehicle residual values slipping, report says

March 5, 2010 - 12:16 pm ET

DETROIT (Reuters) -- Toyota Motor Corp. vehicles are losing residual value due to safety recalls and a perceived decline in quality, an influential automobile dealer tracking firm said Friday.

"Although their brand success didn't happen overnight, it appears their reputation for reliability is unraveling," California-based Automotive Leasing Guide said in a report.

The residual value of Toyota cars and trucks will lose 1 percent over the next three years, which will likely depress the automaker's sales, ALG said.

Since September, Toyota has recalled about 8.5 million vehicles worldwide, mainly for potential unintended acceleration.

ALG's reports are closely watched in the automotive industry for its forecasts of residual value, a key component in setting auto leasing rates. In recent years, Toyota's relatively high residual values have helped boost its sales and given it an advantage over competitors when setting dealer leasing terms.

Read more: http://www.autonews.com/apps/pbcs.dll/article?AID=/20100305/RETAIL04/303059955/1290#ixzz0hXCKOI8A

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