While this is no doubt true, I think it’s more valuable from a public relations standpoint to focus on what they’re doing now. And what they are doing is setting a good example for all companies large and small.

Their first example is an obvious one — don’t allow a crisis of this magnitude to happen in the first place.

But the second and more serious example is showing the importance of a full-throated mea culpa. They screwed up huge and it’s causing hundreds of thousands, even millions of customers worry, hassle, and in some cases serious injury.

Companies who suffer a breach of trust with their customers on such a mass scale simply cannot apologize often enough or in too many venues.

Toyota has kicked off their apology tour with a new commercial recounting the company’s long history of building dependable, quality products and apologizing for letting customers down.

You can look for this to be the first of many ‘apology’ ads soon to be blanketing the globe on radio, television, billboards, and the Internet.

The lesson all companies should take to heart is the importance of owning up to mistakes rather than playing the blame game. Don’t get angry and defensive or lash out at customers and critics.

The very worst thing any company can do in a situation like this is to come off looking arrogant. Instead, admit your mistakes fully and completely and promise to make it right — no matter what it takes.

Consumers understand that mistakes happen sometimes and even if they’re furious right now, your decision to be up front and honest with them will go a long way to winning them back.

Toyota is an amazingly strong brand. They really do have a long history of making quality automobiles. Even if you’ve never owned a Toyota or a Lexus you know their brand is synonymous with quality — and more recently for not taking bailout money (but that’s for another article).

So as disastrous as this recall is for Toyota, and I believe it will get much worse before it gets better, they will ultimately emerge on the other side intact. Their track record is simply too good for a single incident (even as cataclysmic as this) to sour consumers on the brand — at least in the long term.