More at CNN.com - Dec. 22, 2008: “NEW YORK (CNNMoney.com) -- Japanese auto giant Toyota said Monday that it would suffer an operating loss due to plummeting auto sales and a strong local currency.
About 30 minutes after the market closed in Tokyo, Toyota said it expected to lose approximately $1.5 billion to $1.7 billion this fiscal year. Toyota reports earnings on a fiscal calendar beginning in April.
This would be Toyota's first operating loss since 1950, Toyota spokesman Steve Curtis said.
Despite the likely operating loss, Toyota expects to post a $557 million net profit for the fiscal year. The profit stems, in large part, from joint ventures whose revenues are not included in the automakers' accounting for its operating profits.”
--- This should show others that it's not just American car companies that are hurt by this economy.
Showing posts with label toyota. Show all posts
Showing posts with label toyota. Show all posts
Monday, December 22, 2008
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