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Toyota Signals 2008 Earnings Will Continue To Slide Downwards
It's not often that Toyota Motor disappoints. Indeed, turbocharged growth has been a feature of Katsuaki Watanabe's presidency at Toyota since he took over from Fujio Cho in 2005. During that time the company has closed within touching distance of General Motors  as the world's biggest automaker. At its annual results announcement in Tokyo on May 8, the company said it had another year of record sales and earnings through March, 2008. Sales increased 9.8% to $252.7 billion, while operating income edged up 1.4% to $21.8 billion and net earnings rose 4.5% to $16.5 billion.

Yet, despite the record-breaking figures, Toyota actually missed its full-year operating profit target by $285 million, after a disappointing final quarter during which operating earnings slipped 31% to $3.81 billion. More important, Watanabe also signaled a projected slowdown in earnings and sales in 2008 that was worse than many Toyota watchers expected. Watanabe said Toyota's sales in the year ending March, 2009 will dip 4.9% to $240 billion, while operating income will drop 29.5% to $15.4 billion. The latter was $3.8 billion below the average result of an earlier survey of 19 analysts by Reuters.


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Toyota Signals 2008 Earnings Will Continue To Slide Downwards



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EnnNorakEnnNorak - 5/9/2008 8:05:16 PM
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Good reason to hold off your next car purchase if you can. Everyone will become much more competitive than they already are. I for one would love to see Toyota start begging people to buy their cars -- that would make it a lot easier to do business with them at a price you are willing to pay.

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toolatetoracetoolatetorace - 5/11/2008 10:14:33 PM
+1 BoostDrop the Boost Up the Boost
Where are all the comments for this one ????

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