According to an Associated Press analysis, Toyota owners stated that colossal safety recalls have caused the value of their vehicles to plunge. At least 89 class-action lawsuits can cost the Japanese company $3 billion or more.

Tom Baker, a law professor at University of Pennsylvania, said, "Such class-action lawsuits 'are more scary' for Toyota than the cases where people actually got injured. A super-big injury case would be $20 million. But you could have millions of individual car owners who could be owed $1,000 each. If I were Toyota, I'd be more worried about those cases".

Toyota is striving to gain public's losing confidence in its vehicles but a final verdict will be passed in the court. March 25 hearing in San Diego will decide Toyota's destiny, where a panel of federal judges will mull over whether to merge the swelling cases into a single jurisdiction.

Toyota owners that sued the company said that the recalls have led to a plummet in their vehicles value and that Toyota was aware about safety problems in advance but hid them from buyers.

The lawsuits surfaced when Toyota recalled around 8 million vehicles worldwide owing to constant complaints about unintended acceleration.

According to the National Highway Traffic Safety Administration, 52 people have died in accelerator-related accidents.