Toyota Motor Corp. gripes about the current dollar-yen rate that makes it difficult for the company to return to profit on an unconsolidated level. In a news conference at the Japan National Press Club, President Akio Toyoda said that the current situation is “very tough,” referring to the weak US currency.
Toyoda added that when you get to its level, it becomes a challenge to return to profit on sales growth alone. He also discussed Toyota ’s aim to return to profit at the parent level as soon as it can despite predictions that global sales will drop 18% from 2008 to 7.34 million vehicles this year. That leaves 30% of its production capacity unused. Toyoda had taken over the company last June as it faced the financial crisis that pushed other automakers into bankruptcy.
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