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Report: Toyota Could Lose More That $1b During Second Half Of Fis

VMax2007

By VMax2007
in Future GM News & Rumors

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VMax2007 Senior Enthusiast

VMax2007

Posted
Posted

http://www.leftlanenews.com/report-toyota-...iscal-year.html

 

When the Big Three CEOs appeared before a Congressional board earlier this month, many of the government representatives implied that if Ford, Chrysler and General Motors simply ran their businesses like Toyota, there would be no need for a government bailout. However, a new report indicates that Toyota could be in some hot water of its own, with plenty of red ink staring the Japanese automaker in the face.

 

According to a report first published by Asahi, Toyota – the poster child for profits within the automotive industry – could lose $1.1 billion during the second half of its fiscal year. In all, the losses from October to March could reduce Toyota’s full-year profits by more than 80 percent.

 

In addition to collapsing sales – Toyota’s U.S. sales were down 34 percent last month – the company is also fighting the strong value of the yen. During 2008 the yen gained 23 percent against the dollar and 34 percent against the euro, according to Bloomberg. Because of the strong value of the yen, sales in other regions are shriveling up by the time they return home to Japan.

dietz4ibanez Senior Enthusiast

dietz4ibanez

Posted
Posted

Wow. You had to know that they were biting their nails and hiding how they are really doing... I bet they hate to admit but they could easily be worse off than the big 3 right quick!

thecraft Senior Enthusiast

thecraft

Posted
Posted

 

 

When the Big Three CEOs appeared before a Congressional board earlier this month, many of the government representatives implied that if Ford, Chrysler and General Motors simply ran their businesses like Toyota, there would be no need for a government bailout.
They would if the unions weren't always bending them over.
Zembonez Senior Enthusiast

Zembonez

Posted
Posted
http://www.leftlanenews.com/report-toyota-...iscal-year.html

 

When the Big Three CEOs appeared before a Congressional board earlier this month, many of the government representatives implied that if Ford, Chrysler and General Motors simply ran their businesses like Toyota, there would be no need for a government bailout. However, a new report indicates that Toyota could be in some hot water of its own, with plenty of red ink staring the Japanese automaker in the face.

 

According to a report first published by Asahi, Toyota – the poster child for profits within the automotive industry – could lose $1.1 billion during the second half of its fiscal year. In all, the losses from October to March could reduce Toyota’s full-year profits by more than 80 percent.

 

In addition to collapsing sales – Toyota’s U.S. sales were down 34 percent last month – the company is also fighting the strong value of the yen. During 2008 the yen gained 23 percent against the dollar and 34 percent against the euro, according to Bloomberg. Because of the strong value of the yen, sales in other regions are shriveling up by the time they return home to Japan.

 

Did you email this to Fan?

Dana_15 Enthusiast

Dana_15

Posted
Posted
Wow. You had to know that they were biting their nails and hiding how they are really doing... I bet they hate to admit but they could easily be worse off than the big 3 right quick!

 

 

lol, no. Toyota has never "hid" how they gained or lost. They won't be worse off than the Big3 right quick, they do not have the UAW hanging over their heads.

 

Everyone is hurting right now, its hard to make a big purchase right now if you are worried about your own job.

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