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Automotive News & Views Toyota in decline in 2009?
3247 messages, Last post on Nov 09, 2009 at 7:46 PM
You are in the Automotive News & Views Forum. Your Hosts are steve_ & claires
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Replying to: kdhspyder (May 04, 2009 10:14 am) I was waiting for the hammer to drop on Yarises, and then I heard from you that the yen exchange rate had improved a lot, which makes it seem really dumb to be low on supplies of their least expensive car (what with being in the middle of a recession and all). Thanks for the confirmation on RAV4 being built in Woodstock. I had a feeling that was the case now. So the two models they plan to build more of in the months to come are both North American built - that's good as supply can come on-line quickly.
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Replying to: nippononly (May 04, 2009 2:09 pm) From your earlier post I think that we'll see an entirely different attitude this month on the Camry and Corolla. We also have a Honda store we own. They had great incentives last month that the Camry didn't have. Buying an Accord at invoice was unheard of in our area. Last month the stores were pushing them out the door at invoice and happy to do it. From Edmunds here... $1000 Cash to Dealer start: 03/18/2009 end: 05/04/2009 Get Dealer Pricing Restrictions Dealer Cash is combinable with Special APR. Comments Dealer participation may vary. Incentives and Rebates are provided subject to the terms of our Visitor Agreement. Toyota missed a step here in reacting to Honda's agression. It is surprising to me also that the Yaris' and Scions are going to be demoted somewhat except that there is little or no margin in either vehicle. Neither can sustain much of a foreign exchange loss without being priced far too high for the segment each is in. I don't know this for certain but while the Lexus' are more expensive they also have greater margins so each could conceivably absorb a 5% foreign exchange loss and still remain profitable - somewhat. Plus the very valuable Lexus network of dealers should not be starved of product.
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Replying to: kdhspyder (May 04, 2009 3:00 pm) Besides that, ONE month doesn't mean a whole lot. I could go back years and the Camry would be the overall winner in sales, if that's how you want to compare them. Remember when the new Accord came out, the Camry still beat it? I'm not bashing Honda, just saying one month doesn't mean anything. Man, now that Toyota is #1, they sure are a target!!! Personally, I wish them both well. Both great companies with a slightly different focus. |
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Replying to: kdhspyder (May 04, 2009 10:14 am) That may be good news for me. I would really like to sell my pristine 2007 Sequoia Limited 4X4 with only 9000 tender miles always garaged. Leather stills smells new. DVD player and wireless headsets never used. That is if I find a diesel SUV I like better.
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Replying to: gagrice (May 04, 2009 5:18 pm) Sounds like you'll get above MSRP for it with all the shortages they'll be so hard to get.
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Replying to: imidazol97 (May 04, 2009 5:34 pm) 
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Replying to: imidazol97 (May 04, 2009 5:34 pm) Order of magnitude. In the past we normally carried 10-20 Sequoia's. Today we have one. When we had one previously it was a demo that when it was sold we then went 3-4 weeks without any. No one missed them. There is no demand for big V8 SUVs. We were the largest retailer of 4Runners in 6 states selling 20-25 per week. Today we have 4. We were and are the largest Toyota truck retailer in 6 states ( our store outsells the entire city of Pittsburgh ). Today we have 10 Tundra's and maybe 20 Tacoma's. The market is going through a huge catharsis as the makers realign themselves to the new reality of fewer buyers and less buying power ( smaller vehicles ). |
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Toyota forecasts $8.6B loss, says 1 million sales will vanish May 8, 2009 - 2:31 am ET UPDATED: 5/8/09 8:25 a.m. ET TOKYO (Reuters) -- Toyota Motor Corp., the world's biggest automaker, forecast a much bigger-than-expected $8.6 billion loss for its current fiscal year and said it would sell about 1 million fewer vehicles as it scrambles to cut costs amid a severe market downturn. .....In the January-March fourth quarter, Toyota booked a $6.9 billion loss, in line with consensus estimates, and cut its annual dividend nearly 30 percent -- the first cut since at least 1994, when it changed its reporting period. While the entire industry is caught in the slump and seeking to offload cars piled up in stockyards, Toyota has been especially vulnerable due to its exposure to the United States and Japan, where sales have plunged to multi-decade lows. Even in China, Toyota has bucked the market's rise with a fall so far this year. .....For the year to next March, the maker of the Prius hybrid forecast an operating loss of 850 billion yen, more than double the average forecast in a survey of 20 analysts by Thomson Reuters. It sees an annual net loss of 550 billion yen based on the dollar and euro averaging 95 yen and 125 yen. The bleak forecasts prompted ratings agency Standard & Poor's to downgrade Toyota's long-term debt ratings to AA from AA+, with a negative outlook. And we thought GM's latest news was bad! In fact, Toyota's was worse by close to $1 billion. That's for a single quarter. Maybe Toyota should have diversified into motorcycles: Domestic rival Honda Motor Co. last week forecast a small profit for this year thanks to its relatively healthy motorcycle business. "Compared with Honda, (Toyota) has a lot of larger models and a lot of excess capacity globally," said Koichi Ogawa, chief portfolio manager at Daiwa SB Investments http://www.autonews.com/article/20090508/COPY01/305089946/1078 (registration link) While Toyota did a pretty good job of cutting production enough when the recession hit the auto industry, it didn't do it quite fast enough apparently, and for that its president (Katsuaki Watanabe) apologized at a news conference yesterday. And while they are now producing vehicles at a rate appropriate for current demand, they do have a GM-style problem due to their rapid expansion in the early part of the decade: lots and lots of plants that are only being half-used, while they wait for demand to pick back up. Watanabe did also say that while expansion plans are on hold (no kidding!) they are not permanently abandoning any of them. Interesting, given that many folks who watch this industry say it could be many years before we reach 2007 demand levels again. |
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Replying to: nippononly (May 08, 2009 6:15 am) But now Toyota has the semi-empty plants that were making the dinosaurs and Honda doesn't. So the question is how quickly can Toyota react? How nimble can it be to avoid the D3 problem of too much weight bearing down on the remaining products? ....'May you live in interesting times.'.....
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Replying to: kdhspyder (May 08, 2009 9:57 am) But the Tundra sales were expected to be 250,000 annually, the Sequoia sales less than half that. Toyota is substantially down across the board, and the 350K represented by the large BOFs isn't close to the reduction of 1 million they are talking about here. Even if you throw in 4Runner and Tacoma, which haven't been as badly hit, you wouldn't be at half a million. I wonder how Nissan is doing.....they have a much more similar lineup to Toyota's than Honda does.
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