August 06, 2009

Toyota Looses Again!

Looks like Toyota really is following in GM's footsteps!

It reported a loss Tuesday of 77.82 billion yen, or $802 million, for the quarter ended June 30. That was less than half the loss anticipated by investors surveyed by Thomson Reuters.

Toyota lost $4.3 billion in the fiscal year ended March 31, its first annual loss since 1950, and warned investors that it expected to lose $5.8 billion this year.

But Toyota pared its loss forecast Tuesday after exceeding its cost-reduction targets in the first quarter and spotting recovery signs in its home market.

It now expects a $4.9 billion loss for the year, and an $8.2 billion operating loss.

So that is a loss for the first quarter, loss for the second quarter and a expected loss for the whole year. And it didn't loose quite so much for the second quarter because of heavy cost-reductions.

They also reported a 36% decrease in sales for the second quarter.

So what does Toyota fall back on while licking their wounds?

Toyota has sacrificed styling panache for predictable reliability

Toyota certainly still hasn't learned ugly won't sell, no matter how good the car is.

And all those thinking that Toyota builds most of it's vehicles in the U.S.? Well think again.

The new team wants to increase Toyota's North American-assembled vehicles as a percentage of sales in the United States, Canada and Mexico.

Through the first seven months of this year, that figure was about 59%, compared with more than 80% for rivals Honda and Nissan.

Toyota is building the vehicles in Japan and shipping them to the U.S. because it's cheaper right now for them to do that. At least Honda and Nissan are sticking with U.S. plants.

How the mighty have fallen!

Posted by Quality Weenie at August 6, 2009 08:57 AM
Comments