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Automotive News & Views Toyota in decline in 2009?
3721 messages, Last post on Dec 03, 2009 at 7:39 AM
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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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Replying to: nippononly (May 08, 2009 12:28 pm) Before the Altima Nissan was in deep trouble and now with this downturn we will have to see just how much Renault is willing to prop them up. The Titan didn't reach projection nor did the Armanda. My guess is Nissan will report a pretty big loss this year. |
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Replying to: nippononly (May 08, 2009 12:28 pm) Yes Toyota was much more involved in the BOF vehicles much like the detroiters but it's product portfolio was in much better balance. Whereas the other 3 were 60-75% dependent on these products Toyota's BOF sales here were more in the range of 30-35% of total. That 30-35%, or about 600K vehicles, is in the crapper now. But Toyota also had to account for currency losses for the last 6 months on a large part of it's sales, almost 50% which were imported, including a bunch of BOF vehicles. There was a double whammy there. So ... they've cut back on the exports from Japan and they've cut WAY back on the BOF vehicle production. But the weight of the producing plants remains. |
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Replying to: iluvmysephia1 (May 04, 2009 9:45 am) There is no choice but to point out the obvious here.  But anyone that would take a chance on a Kia after they went BK and were picked up by Hyundai has very little room to complain about anyone let alone Fiat.  But you have a right to your opinion. I never liked the sales and service of VW but the new VWs almost tempted me.
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Replying to: boaz47 (May 12, 2009 1:24 pm)
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Replying to: berri (May 12, 2009 6:11 pm) But if you look at how things are right now entry level cars are doing better than just about anyone.
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Automotive News & Views Toyota in decline in 2009?
