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Automotive News & Views Toyota in decline in 2009?
3673 messages, Last post on Dec 01, 2009 at 7:32 AM
You are in the Automotive News & Views Forum. Your Hosts are steve_ & claires
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Replying to: nippononly (Nov 19, 2008 6:32 pm) It will also depend on what happens in the bail out vote on the domestics. If GM does release the Volt then a hybrid will seem like a step back to many of us. I still say GM and Toyota both dropped the ball when they discontinued their EVs because CARB let them off the hook. Ford was even advertising a sub compact EV at the time but over night hybrids took the stage and here were are 9 years later. |
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Replying to: nippononly (Nov 18, 2008 6:02 pm) |
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Replying to: boaz47 (Nov 19, 2008 3:10 pm) It's not surprising that they too are losing volume and profits. This is a horribly difficult environment. |
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"Toyota Motor Corp. said Monday it is delaying plans to open its newest U.S. plant in Mississippi, which was to have built the next-generation Prius hybrid. Citing the steep decline in the auto market, Toyota said it would complete construction of the building but would hold off on installing equipment, delaying the start of production that was slated for 2010." Toyota Delays Mississippi Plant Launch; Slashes Forecast, Details Cost Cuts Next week (AutoObserver)
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Replying to: steve_ (Dec 15, 2008 9:19 pm) Prius demand is half what it was in summer, and dealers suddenly have plenty to spare again. And of course, the Prius is on the end of its long production run, with the new model scheduled to debut in spring. So sales would be down at this pont anyway. I bet they will still get the plant running in time for it to build the redesigned model, but they may delay the debut of that model a few months. I mean, why build the structure and hire 100 full-time staff, just to let it sit there without earning any money? Even if the auto market IS way down?
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Replying to: nippononly (Dec 15, 2008 9:44 pm) The Cooper Tire plant in Tupelo may close (~1500 jobs) and lots of the furniture places there have moved to China, so losing the 2,000 Toyota jobs, even if it's just for a year, is gonna hurt. Vernon and Gladys may have to Memphis all over again.  (If I have to explain that last one, you don't know your Elvis history). |
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Replying to: nippononly (Dec 15, 2008 9:44 pm) I am a bit glad to see a glut in the Prius market. I always thought it was over priced for what you got and would love to see Toyota have to discount them to get rid of them at years end. It was interesting to see the southern Senators from the states that have import manufacturing standing solidly behind denying the domestic bail out. But that is simply politics. I just don't know how any new imports from India or China can afford to start up here in the next two or three years? How will they get the financing? How will people get the financing to buy their vehicles? As this recession spreads to the rest of the world things are simply going to get tighter for everyone and I don't see Toyota coming out of this without a scar of some kind. |
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Toyota to suffer first full-year loss (AFP)
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Replying to: steve_ (Dec 18, 2008 9:14 pm) But the news reports said Toyota would further downgrade its sales and earnings projections as the company was battered by a sharp decline in global auto sales and the yen's continued appreciation against the dollar The reason that is interesting to me is that the morning news reported that the two divisions of Toyota in Japan that are projected to actually lose money this year are the ones that make the Prius and the Camry - two divisions whose markets are mostly in export to the U.S., where the yen/dollar exchange rate becomes a very important factor. I guess that is a lot MORE true for Prius than it is for Camry, since most Camrys sold in the U.S. get built here. Note that despite the misleading title, Toyota is not going to have an overall loss this year, although they do expect their net operating profit to be down almost 70% for the fiscal year ending March 31, to 550 billion yen, or somewhat more than $6 billion U.S. at current exchange rates.
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Replying to: nippononly (Dec 19, 2008 7:43 am) Well, I got the link via Drudge so that's to be expected.
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