now they ve shown it very publicly that they are not perfect in dependability and reliability. they are going to have somewhat of a tougher time competing for the customers especially as ford and gm have improved their quality greatly and can make a better case to say, hey, do you know what, there s not that much of a difference between us and toyota anymore. peter and lauren, thank you very much. we could talk about it all day. i m sure we ll see you on the network throughout the evening and the weekend until this lasts until this is completed. thank you very much. we appreciate it. we want to get you now to our top stories. and topping the news right now, toyota s president formally apologized for his company s safety issues, but he has not announced a 2010 prius hybrid for brake problems. the company is looking at new lexus hybrids because of the same issue. toyota has recalled millions of other models because of the gas pedal problem. the u.s. plans to sell military equip
perhaps this might be the case that they didn t realize how serious the safety issue was, give them the benefit of the doubt there, they might not have known how serious the problem was. it doesn t look very good when there s a fix out there and they re still looking to how to get the fix to the cars in consumers hands, i would hope toyota would realize right away how serious a momentary loss of braking power could potentially be. peter, i was reading to you from cnnmoney.com, and you and someone else wrote this article, this is the thing that caught my eye, standard & poor s say it could prove to be a difficult process. they may have problems in the future. yeah. i mean, i think it s going to be someone i read someone somewhere said a new normal for toyota. toyota s always had this image of being just about perfect for reliability and dependability. toyota has shown that, no, they ve never been perfect, but
a moment of crisis. that s how toyota s top man describes his company s current situation. in his first news conference since massive recalls began to grow two weeks ago, auto the automaker s president says i m sorry, but he insists there s no cover-up and toyota will make it right. translator: the current problem is a huge problem and it is a critical situation. we as a company must unite and work to regain the trust from our customers. and i believe that is also my responsibility. he says his company is cooperating with u.s. investigators looking into possible brake problems on the new prius hybrids. that brake system is also in the new lexus hybrids as well. neither has been recalled. much, much more on the company. the recalls and the fixes. in about 30 minutes here on cnn we ll be talking about an automotive analyst and with our very own peter valdez depainia with cnnmoney.com.