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Automotive News & Views Toyota in decline in 2009?
3847 messages, Last post on Dec 08, 2009 at 7:52 AM
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Replying to: iluvmysephia1 (Feb 05, 2009 10:20 pm)  Ready for the constraints of the haiku style? Auto Haiku |
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Heard on the radio this A.M. that Toyota posted it's first annual loss since 1950. Times are definitely, officially bad all over when you see THAT happen.
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Replying to: larsb (Feb 06, 2009 6:12 am)
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Replying to: mcdawgg (Feb 06, 2009 6:28 am) Toyota ACKNOWLEDGED it today OKYO (AP) - Toyota, the world's largest automaker, sank into the red for the October-December quarter and acknowledged Friday it was heading for its first annual net loss since 1950 because of plunging global sales and the strong yen. Joining a string of Japanese companies that have slashed forecasts, Toyota Motor Corp. said it expects a net loss of 350 billion yen ($3.85 billion) for the year through March. That's a stunning reversal from the record 1.72 trillion yen profit the maker of the Prius hybrid and Lexus luxury line had earned the previous fiscal year. In December, the company thought it would eke out a small annual net profit, but the outlook has darkened since then, especially with the dramatic contraction in the U.S. auto market on which Toyota depends so heavily. For the fiscal third quarter, Toyota racked up a loss of 164.7 billion yen ($1.81 billion), down sharply from the 458.6 billion yen profit it had the same period the previous year, as the global slump squelched sales. Quarterly sales plunged 28.4 percent to 4.8 trillion yen. Toyota said the last time it had the equivalent of a net loss was in 1950, when it reported just parent results under different accounting standards than it uses now. The damage to Toyota's bottom line was particularly pronounced because the company had been on such an aggressive growth track in recent years, but the downturn came extremely suddenly, said Yasuaki Iwamoto, analyst with Okasan Securities Co. in Tokyo.
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The Venza is taking off around here. Even in the struggling economy, I've seen a few of them already. And it's only been out for what, 1 month? All of them have carried the big 20" wheels too, I haven't seen any base models. |
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Replying to: larsb (Feb 06, 2009 6:44 am) Well, I can't help them personally. My 2 Camrys are about to be paid off in the next couple of months. They're going strong at 57K and 37K miles and I have no need or intention to replace them. |
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Replying to: kdhspyder (Feb 03, 2009 7:55 pm) What is the Platinum Edition ?
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Replying to: lenox29 (Feb 06, 2009 8:45 am) All the trim levels except the top Platinum Package will have halogen headlights and LED tail lights. The Platinum Package will have two LED headlamps for the lowbeams combined with a halogen high beam. The explanation from the Prius Product Manager was that they wanted to use lights that used the least amount of energy. LEDs fit this need but they are expensive, very expensive. Thus as headlamps the LEDs are only found in the top package, but as tail lights LED's are standard on all trims. There are three identified packages for those ordering 'pre-launch'. Silver is approximately the current package #4, with a couple of plusses/minuses Gold is approximately the current package #6 ..plus sunroof and solar panel ..plus heated seats Platinum is 'Gold' ..minus the sunroof / solar panel ..plus Dynamic Laser Cruise with Pre-Collision System ...........Lane Keep Assist ...........Intelligent Parking Assist ...........Fog Lamps ...........LED headlamps ...........17" Alloys I'm fairly certain that there will be at least 3 or 4 additional variations in order to suit the wide variety of tastes in this market.
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Replying to: kdhspyder (Feb 06, 2009 12:23 pm) |
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Toyota moves deeper into U.S. work cuts Still refraining from laying off any North American workers, Toyota Motor Corp. said Thursday night that it is freezing wage, reducing hours and adopting a voluntary exit program. The new measures, which Toyota dubbed a "shared sacrifice" philosophy, come as the automaker faces its first financial losses since 1950 and the unfamiliar specter of idle factory lines. Toyota is considering a schedule in which some workers would work 72 hours in a typical 80-hour, two-week period. Other provisions Toyota says it will also: • Add three to eight additional non-production days per factory to its North American schedule through April 30; • Reduce bonuses for hourly workers; • Eliminate bonuses for North American executive and salaried workers; and • Offer no wage increases "for the foreseeable future." The company will also offer a "voluntary exit program" for workers who want to leave. That plan will provide 10 weeks of pay, two weeks of compensation for every year an employee has worked, and a $20,000 lump payment to any worker who wants to leave. http://www.autonews.com/article/20090213/ANA02/902120276/1176 (registration link) This news comes on the same day we learn that the 2010 Tundra has been refreshed with a new engine to replace the very old 4.7L V-8 and a "platinum package" to be available on 5.7L CrewMax Limited models, which will sticker over $50K from the sound of it. Maybe they will sell enough of those to get some of those idled workers back to a full-time schedule.....not! 
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