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Report: Toyota’s Operating Loss Will Widen to US$4.5B

The Nikkei that Toyota Motor Corp.’s group operating loss for the year ending March 31 is likely to jump to ¥400 billion (US$4.5B) from the ¥150 billion it projected last month (earlier post).

With the global economy quickly weakening, the automaker has been unable to halt the slide in auto sales and is heading into its first net loss since the year ended November 1963, when it started publishing net results. Sales are expected to undershoot its previous forecast of 21.5 trillion yen [US$329 billion], which would have been an 18% drop on the year.

Toyota group firms see their own earnings sharply deteriorating because of output reductions by the parent. As a result, their contributions to the automaker’s consolidated profits are expected to decrease.

Toyota has a shelf registration of ¥200 billion (US$2.2 billion) in straight bonds, with issuance expected as the current fiscal year ending March 31. The funds would be used mostly for capital spending on development of technologies and new products.

Comments

ToppaTom

They deserve to fail.
Management stupidly spent billions on big SUVs, trucks, hybrids and other vehicles people do not want to buy.
And it’s too late to cash in on the outrageous, but profitable, monster SUV (Hummer) craze.
While it may be true that big trucks and SUVs still constitute 30 to 40% of the US market, buyers continue to perceive better quality for their dollar in foreign trucks such as F150, Silverado and Ram.
And Toyota projects Prius sales at only 1.5% of the US market - after 10 years.
Next they will want a government bailout.
All they need to do is avail themselves of the expertise and productivity that the UAW can provide.

ToppaTom

Oh, forgot; Insiders claim Toyota has plans to kill the hybrid soon and just make money on the movie.
Looks like their business model and technology are about 10 years behind the US auto makers'.

Andrey Levin

Toppa:

UAW, CARB, and CAFÉ are ruining Toyota.


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