So, Toyota is the new GM?

Remember Government Motors General Motors?  It was bumped into second position by the mighty Toyota?  I suppose one cannot be king for long:

Toyota’s “reputation for long-term quality is finished,” said Maryann Keller, senior adviser at Casesa Shapiro Group LLC in New York, a strategic adviser to auto industry. “People aren’t going to buy Toyotas, period. It doesn’t matter which model. What’s happened is sufficient to keep people out of the stores,” she said in an interview yesterday.

The carmaker said late yesterday it’s expanding a record 4.26 million-vehicle recall announced in November to include 1.09 million additional U.S. autos, to fix accelerator pedals at risk of being trapped by floor mats. Losing its reputation for quality would undercut Toyota’s decades-long campaign to promote reliability and safety that helped it become No. 2 in U.S. sales.

So, if our logic for pouring money into GM and Chrysler because they are American companies that needed to be propped up, will we then extend that sympathy to Toyota too? Just asking :)