In a startling revelation, Daihatsu, a subsidiary of Toyota, admitted to falsifying safety test results for its vehicles over three decades, leading to a complete halt in domestic production and affecting around 9,000 employees. This scandal, involving manipulation of safety tests on 64 vehicle models, has sparked a 4% decline in Toyota's shares. With an estimated $700 million in losses, Daihatsu and Toyota face challenges, especially as electric vehicle makers like Tesla gain market share. In contrast, Tesla's safety-focused approach, emphasized by CEO Elon Musk, who instructs embedding safety from the ground up, highlights a potential shift in consumer preferences amid concerns about Toyota's safety profile. The scandal prompts Toyota to initiate a fundamental reform, signaling a critical moment in its commitment to quality and integrity in the face of the rising influence of Tesla's electric vehicles in the automotive landscape. #tesla #toyota #elonmusk

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