Toyota nosedive 99% in the USA
08-11-08, 04:50 PM
#1
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Toyota nosedive 99% in the USA
Last week saw Toyota announce its first profit drop in nine years, with the carmaker revealing a 39% decline in its global operating profit the quarter ending in June this year. The industry juggernaut has now revealed an even worse result in percentage terms for its North American unit, with profits for the past quarter plunging from $1.4 billion to just $15.2 million in a one year period - a nosedive of 98.9%.
http://www.motorauthority.com/news/i...erating-profit
http://www.motorauthority.com/news/i...erating-profit
08-11-08, 04:58 PM
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Last week saw Toyota announce its first profit drop in nine years, with the carmaker revealing a 39% decline in its global operating profit the quarter ending in June this year. The industry juggernaut has now revealed an even worse result in percentage terms for its North American unit, with profits for the past quarter plunging from $1.4 billion to just $15.2 million in a one year period - a nosedive of 98.9%.
http://www.motorauthority.com/news/i...erating-profit
http://www.motorauthority.com/news/i...erating-profit
percentage terms for its North American unit, with profits for the past quarter plunging from $1.4 billion to just $15.2 million in a one year period
08-11-08, 06:13 PM
#4
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Where is the source for Motorauthority article? I looked up Toyco press as well as Toyota stock financials and i could only obtain:
Vehicle sales in North America totaled 729 thousand units, a decrease of 33 thousand units. Operating income decreased by 91.1 billion yen, to 69.1 billion yen including 67.5 billion yen of valuation profit on interest rate swap transactions. Although the US market, primarily the truck segment, is slowing down, Toyota earned a record high market share of 17.4 percent for this quarter. However, decrease in sales volume, the shift of product mix to compact cars, increase in sales expenses such as incentives and increase in reserves for bad debts, resulted in declining profits. Toyota will take swift actions in accordance with market changes by increasing the supply of models in high demand and launching new models.
08-11-08, 07:07 PM
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08-11-08, 07:31 PM
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GM and Ford continually LOSE BILLIONS every quarter and we're confused because Toyota only PROFITED $15M this past month???
Well, this is do to one main reason. Toyota still builds a large line of big vehicles like Tundra, Sequoia, FJ Cruiser, and other "gas guzzlers" (even though Toyota also builds the most fuel efficient vehicles).
So it shouldn't come as any surprise.
Well, this is do to one main reason. Toyota still builds a large line of big vehicles like Tundra, Sequoia, FJ Cruiser, and other "gas guzzlers" (even though Toyota also builds the most fuel efficient vehicles).
So it shouldn't come as any surprise.
08-11-08, 07:31 PM
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As for how they could only make $15 mil in the U.S. in one quarter, well that's still much better than the lakes of red ink from GM, Ford and Chrysler.
From what I've read and would guess, the attempted big push into big trucks (new Tundra) has been a big source of the reduced profitability. I suspect the huge capital outlays offset the continued stellar performance from sedans.
08-11-08, 09:15 PM
#11
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08-12-08, 09:32 AM
#15
GM posts $15.5B 2Q loss, 3rd-worst in its history
http://biz.yahoo.com/ap/080801/earns_gm.html
Toyota did what? come again?
http://biz.yahoo.com/ap/080801/earns_gm.html
Toyota did what? come again?