Cars
After losing the top spot as the world's largest automaker, Toyota is now halving its profit forecast due to a number of factors, the most important of which are the production disruptions caused by the earthquake and tsunami in Japan in March and the recent floods in Thailand, as well as the strong yen.
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Cars
Toyota's Gloomy New Forecast Cuts Annual Profits by More than Half
After losing the top spot as the world's largest automaker, Toyota is now halving its profit forecast due to a number of factors, the most important of which are the production disruptions caused by the earthquake and tsunami in Japan in March and the recent floods in Thailand, as well as the strong yen.
Toyota said that it expects to bring in a net profit of 180 billion Yen [US$2.3 billion] for the fiscal year ending March 31, 2012, down 53.8 percent from the 390 billion yen [US$5.04 billion] it projected in August.
Read more »- Vw Starts To Feel The Crisis: Q1 Profit Down Almost 50 Percent
Although deliveries and market share are on the rise for the first quarter of 2013, Volkswagen Group posted a profit before tax of €2.7 billion ($3.53 billion), down from €4.2 billion ($5.5 billion) in the same period last year. Profit after...
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At a time when most automakers are struggling with a sharp downturn, making a €8.586 billion profit (before taxes) in the fiscal year 2007/2008 that ended on July 31 definitely comes to a surprise - especially when we're talking about a company...