PDA

View Full Version : Toyota forecasts its first reported operating loss



RobJohnson
12-22-2008, 09:14 AM
NAGOYA, Japan — Toyota Motor Corp. slashed its earnings forecast today, projecting that it would report its first annual operating loss for the fiscal year through March — its first such loss since it began reporting results in 1941.

Battered by falling demand from consumers around the world and a surging yen, Toyota and other Japanese automakers have been reducing earnings outlooks and cutting workers.

"The change that has hit the world economy is of a critical scale that comes once in a hundred years," President Katsuaki Watanabe said at the company's Nagoya office. The drop in vehicle sales over the last month was "far faster, wider and deeper than expected."

Toyota forecast an operating loss of $1.66 billion for the fiscal year ending March 2009. Toyota has never reported an operating loss since it began disclosing such figures in 1941. But it did have an operating loss in unofficial, internal calculations for the year ending March 1938, a year after the company was founded

1.66 Billion Loss (http://www.freep.com/article/20081222/BUSINESS01/81222005/1014)

RobJohnson
12-22-2008, 12:59 PM
So it was the Yen and not the Big 3 that caused them to make so much money in the past?

Zeus
12-22-2008, 01:44 PM
http://i58.photobucket.com/albums/g258/AJTarantino/Photoshops/ToyotaRam.jpg
http://i58.photobucket.com/albums/g258/AJTarantino/Photoshops/TundraSidecopy.jpg
2009 Toyota Tundra. Looks suspiciously like the Dodge Ram doesn't it. That's OK though Because the 2009 Dodge Ram except for the Grill area looks a lot like a Ford. :D

lacarnut
12-22-2008, 03:19 PM
I passed by a Toyota dealership this am and they had these gigantic numbers on the side of their vehicles showing the price. You see those suckers a block away.