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Toyota loses three times more than expected

Posted by Hootan Mahallati | February 06, 2009 | In news toyota

Welcome to Friday – here’s more bitter news from the car industry. Toyota announced today that its annual loss will be three times larger than what it had previously forecasted. Toyota used to be famous for never incurring an operating loss in its 70-year history, but it expects to lose a staggering $4.95 billion in the year ending March.

We hate to keep reporting such dismal figures, but it is clear that there is a tectonic shift afoot when the bulletproof Toyota can’t shift units.

The company still forecasts a worldwide sales of 7.32 million vehicles for 2008/09, but something tells us that figure will get slashed soon.

1 Comment(s)

Uncle Mark | posted 1 year, 7 months ago

So, not “saved by zeeerrroooooooooooo” I guess ...

It could be worse though ... compared to the big three and their suppliers, neagtive $5bn and change is just a rouding error ... I worried that stocks of red ink are going to run out in Detroit!