Obama says Toyota will survive recent glitch

Although U.S. and Japanese government officials have played extensive roles in the recent string of safety recalls by Toyota, President Obama has remained relatively quiet on the issue. Obama thoroughly discussed the situation with media for the first time, and among his comments was his vote of confidence in Toyota's future beyond the current crisis.

In early February, Obama did make a brief statement that he was pleased with Toyota's handling of the situation, despite NHTSA voicing concern over Toyota's lack of initiative regarding the matter. Now, in Obama's first public discussion regarding the Toyota recalls, he told Bloomberg that he didn't have an opinion on whether or not Toyota had failed to act quickly enough, because they were still taking part in an ongoing investigation to make that determination.

"Every automaker has an obligation when public safety is a concern to come forward quickly and decisively when problems are identified," Obama said during the White House interview. "We don't yet know whether that happened with Toyota. That's going to be investigated."

Despite the fact that Toyota is facing global recalls approaching nine million vehicles, roughly six million of which are in the U.S., Obama suggested that Toyota would weather the storm and continue to survive as a top automaker.

"Obviously, Toyota has been an extraordinary automaker for a very long time, and I suspect they will continue to be, despite this recent glitch," he said.