Toyota expecting first annual net loss
TOKYO -- Toyota Motor Corp. expects a net loss for the fiscal year through March, news reports said, as Japan's biggest automaker deals with a global collapse in demand for cars.
Toyota plans to revise down its projections for the third time, with the operating loss now expected at around 400 billion yen ($4.5 billion) from the earlier projection of 150 billion yen ($1.7 billion), Japan's Kyodo News agency and respected business newspaper The Nikkei reported.
The carmaker previously had predicted its first operating loss in 70 years, but said it expected to eke out a small net profit. Toyota now expects a net loss for the fiscal year, the reports said.
That would be the company's first annual net loss since it was founded in 1937.
Toyota spokesman Hideaki Homma declined to comment because the company is currently compiling the projections ahead of its earnings report for the October-December quarter, scheduled for release on Feb. 6.
Toyota has been hammered by the collapse in global demand for cars, and is slashing its number of temporary workers.
Toyota's loss has expanded by 200 billion yen ($2.2 billion) in just over a month and reflected a worse-than-expected sales slump, the Nikkei said.
The company's sales are also expected to be significantly below the projected 21.5 billion yen ($241.5 billion), the report said.
BOYCOTT LEMON ENGINEERING TOYOTAS
"Can't move in the snow" IS a lie. It most certainly did. But your grasp on reality is slipping and fast.
Kind of like you thinking a 1 day 1000 subscriber to a Ford sponsored magazine, is the same as a 81,500 real owner 90 day analysis. If you knew ANYTHING about stats, you would know the very first thing you need to do is get good data. But no, I see you prefer the Garbage In Garbage Out method.
<<somehow makes it ok that the Venza>>
OK, who says anything about OK, it's a CROSSOVER, of course it is going to be heavier. And ya, I know plenty about driving in the snow (where did you get Florida?) My old truck has 4WD and I could spin that babies tires in the snow anytime I wanted.
<<My RWD Mustang with snow tires has no issues in the snow.>>
Ya, as long as you don't gun the engine, probably like the author did, huh? Oh, but you didn't know that, did you.
tcesni, you intentionally look for bad things in Toyota then exaggerate them. Let's stick to reality here. The author did not like the Venza, some people might like it, some won't. It's a segment car.
<<Scub..ever wonder why a foreign Co. builds a plant in the US?>>
No, I didn't ever wonder, I know the reason...trade restrictions and tariffs. It's cheaper for Toyota to build cars in the US than import them. Toyota reinvests that money back in the US with donations to charities, paying investors dividends, paying workers bonuses, opening new design facilities like the one in Michigan.
I see you are quite out of touch.
<<Some greed Americans still buy foreign cars>>
Like how Ford bought a stake in Mazda, right? Oh, I see its OK for Ford to buy foreign, but not anyone else?
Hungry? Go eat your BS.