Toyota Estimates Recall at $2 Billion

During all the recall ruckus, one has got to wonder just how much all this is costing Toyota. According to a company estimate, the two recalls that it’s issued will cost $2 billion. That includes almost $1 billion in lost sales. Meanwhile, according to Inside Line, tanking stock prices have caused Toyota’s value to drop about $30 billion.

Inexplicably, Toyota also issued an optimistic sales forecast for the year and expects to sell 7.18 million vehicles (up from the 7.03 million prediction from earlier this year). The company expects to post a profit of $880 million.

We’ll see how many dollar bills are added to that loss estimate as the Prius issue progress and the U.S. DOT decides on whether it will fine Toyota for its recall actions. [via Inside Line] [Photo: borman818]