Toyota’s news is just getting worse. According to Business Week the number of class action lawsuits has hit 41 and around the world there are millions of Toyota owners riding the bus.

The first announcement of 437,000 Prius and Lexus vehicles and now 7300 of Toyota’s top selling Camry for what National Highway Traffic Safety Administration calls,

“a power steering hose that is too long and can rub up against a tube for the left rear brake. That could cause the brake tube to wear through, leading to a leak of brake fluid.”

Sounds nitpicky, but once Toyota slid under the microscope everyone wants a peek into the lens. Bloomberg is reporting a 2 billion dollar loss. That’s broken down into 1.12 billion dollars in warrantee loses (times that people use their warrantee when they wouldn’t have even thought about their warrantee until it had already expired) and $875 million in lost sales.

Don’t let those tears fall for Toyota quite yet because they also reported to have approximately 23 billion dollars in cash lying around. That should be more than enough to get them over this hump. Or will it?

The problem with making hundreds of commercials not only touting the quality of your vehicle, but also the fabulous resale value, is that there are people who bought your vehicle for one reason: resale value. That’s where some of the afore-mentioned 41 (and counting) class action lawsuits are coming from. That means that 23 billion dollars, which was once referred to as “profit”, now begins to slip away.

It doesn’t stop there. Their stock is steadily falling, down ten dollars and projected to keep on declining. Today it closed up 1.75 (2.40%). That’s the optimism of the market. But as they see liquidity start leaking, then Toyota could join it’s rival Honda in the $35 per share range. Or perhaps sink further into Ford’s $12 range. And of course, the impossible could happen, and Toyota could drop into the GM stock category, which happens to be currently trading at 75 cents per share. But that’s highly doubtful. They’ve been called arrogant, but they’re not that badly run.

8 million cars means a long line to the dealership, so reserve your spot now. If you have another car, then drive it and park your new Toyota until your appointment. If you find yourself a victim of surges of acceleration, brake problems, brake fluid leak, or any other recall related problems, call Phillips Webster for a consultation to review your legal rights.