Toyota Reports a 73% Drop In US Profits For 3rd Quarter: Forms Emergency Commitee

thats crazy

— KZ258 (View Profile)

Posted on 11/6/2008 9:57:13 AM | reply to this comment | Votes: 2   

Link didn't work for me so here's a new one.


http://www.bloomberg.com/apps/news?pid=20601080&refer=&sid=aXk6WfhUqbDc



"Among 10 publicly traded Japanese car and truck makers, only Fuji Heavy Industries Ltd., the maker of Subaru cars, reiterated its earnings forecast."

— TurboSpyder (View Profile)

Posted on 11/6/2008 10:29:43 AM | reply to this comment | Votes: 2   

They are dealing what the Europeans have had to deal with for quite a while.

Dwindling sales and strong exchange rate make thier products cost more.

If you notice lateley, all of the Japanese Companies are starting to mention profits are hurt by the Japanese government no longer keeping the YEN artifically low.

Now they really have to run lean and mean to keep up.

— Agent009 (View Profile)

Posted on 11/6/2008 10:30:26 AM | reply to this comment | Votes: 0   

Psst! Don't tell Huu76... He will pull all kinds of weblinks and sites out of his ass to defend his idol marquee.

— QuantumMatrix (View Profile)

Posted on 11/6/2008 10:43:00 AM | reply to this comment | Votes: 4   

Good thing they grew fast and made their money. I hope they don't cut any corners in terms of quality and reliability.

— Agent63 (View Profile)

Posted on 11/6/2008 2:01:06 PM | reply to this comment | Votes: -2   

They will have to cut production to deal in the slow down in demand. Bottom line is that Japanese auto companies are about to become much smaller. The competition from Hyundai is also hurting them.

— mini22 (View Profile)

Posted on 11/6/2008 2:07:29 PM | reply to this comment | Votes: 4   

Who cares what profits they`re making . I`m rather more interested what products ( cars ) they`re making .

— abcd (View Profile)

Posted on 11/6/2008 2:51:55 PM | reply to this comment | Votes: 2   

Key thing here is they're still profitable. How many quarters, make that years - has GM/Ford posted Losses?

— M35MT (View Profile)

Posted on 11/6/2008 4:22:48 PM | reply to this comment | Votes: 1   

Toyota has been hurt by a skyrocketing yen and recent investements in trucks which should have just gotten into their stride but have been hit by skyrocketing fuel costs and a plunging economy. That said, Toyota's overall efficiencies should still see them through with less pain than others, but the reality now for the industry is something much worse than 1987...

— BozzorTheGreat (View Profile)

Posted on 11/6/2008 6:56:32 PM | reply to this comment | Votes: 1   

This is only a forecast. Lets try again same time next year when the facts come out.

— Badgewhore (View Profile)

Posted on 11/7/2008 12:10:59 AM | reply to this comment | Votes: 1   

I guess they had any easy time when the market was good. I am glad I don't have toyota stock!

— kpaxx (View Profile)

Posted on 11/7/2008 8:35:06 AM | reply to this comment | Votes: 1   

Quantum,
Big surprise, just remember I already said that Toyota's profit will fall even more once the 0% briefly kicks in.

Gotta love the selective headlines, 73% drop in U.S. operating profits, net profit only dropped by 69%.

On the other hand, the brand that's supposed to command premiums from "rich" people took a global hit of 63% in their profit (even with Mini sales skyrocketing) and they've already written of 1.3 billion this year for lost value on leases.
http://www.guardian.co.uk/business/2008/nov/04/automotive-marketturmoil

Everybody's hurting, difference is Toyota has plenty of money to ride it out.

— huu76 (View Profile)

Posted on 11/7/2008 6:40:01 PM | reply to this comment | Votes: 0