(NECN: Peter Howe) Toyota CEO Akio Toyoda, grandson of the founder of the world's biggest carmaker, came to Washington Wednesday to make an extraordinary personal apology -- and announce some extraordinary new measures to help Toyota owners in New England and nationally affect by the recall of 8.5 million cars and trucks.
Braving a fusillade of clicking cameras, Toyoda swore the oath and, reading in English from a prepared statement, and made an extraordinary admission to the House Committee on Government Oversight: "I fear the pace at which we have grown may have been too quick. I would like to point out here that Toyota's priority has traditionally been the following: first, safety; second, quality; and third, volume We growth over the speed at which we were able to develop our people and our organization, and we should sincerely be mindful of that. I regret that this has resulted in the safety issues described in the recalls we face today, and I am deeply sorry for any accidents that Toyota drivers have experienced.''
In terms of concrete changes, Toyoda said he will name a new U.S. product safety chief and form a U.S. and global global quality advisory group. He promised a system to get customer complaints to Tokyo headquarters faster, and allow each regional division to make decisions -- like recalls -- as necessary.
During congressional testimony Wednesday afternoon, Toyoda also provided sketchy details of what would be a major development affecting Toyota owners across New England and the nation. He said Toyota will now offer free at-home pickup of cars and trucks under recall orders and give affected owners a free rental car while their vehicles are being fixed and reimburse out-of-pocket transportation expenses. This plan was initially going to be part of a settlement with New York Attorney General Andrew Cuomo involving Toyota owners in the Empire State, but Toyota executives agreed to extend the offer nationally.
Despite the testimony and planned actions, Wellesley, Mass., corporate coach Suzanne Bates -- author of "Speak Like a CEO" and "Motivate Like a CEO" -- said, "Mr. Toyoda still has a significant problem.''
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Of his statement, she said, "It was very good apology. I'd give him an A for sincerity. I'd give him maybe a B for the apology itself.'' But, she said, "I would give them a D-mius for their timing. They should have jumped on this and gotten out ahead of the story a lot sooner.''
Click here to hear more from Toyoda.
