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Toyota Predicts 40% Profit Shortfall and Will Miss Lowered Sales Targets

Agent009 submitted on 10/9/2008 Official Bell & Ross Timestamp: 8:56:31 AM

21 user comments | Category: Misc News | Source: | SOURCE: www.autonews.com

Toyota will likely post a 40 percent slide in annual profit, missing its profit estimates on weak sales in North America and slower growth in China, the Nikkei business daily reported.

The Yomiuri newspaper reported that the world's biggest automaker was set to revise down its forecasts and plans to reduce output in Europe.

Toyota's operating profit was likely to be around 1.3 trillion yen ($12.8 billion), below its current forecast of 1.6 trillion yen, the Nikkei said.

A Reuters Estimates consensus forecast from 20 analysts puts Toyota's operating profit at 1.63 trillion yen.

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Toyota Predicts 40% Profit Shortfall and Will Miss Lowered Sales Targets

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Agent009

"If everything seems under control, you're just not going fast enough."

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User Comments

QuantumMatrix

Calling Huu76, auto001 and Teknik????

Now what is this you have been saying about BMW??

Ricer Toyota=Lexus in Financial FreeFall...

— QuantumMatrix (View Profile)

Posted on 10/9/2008 9:10:12 AM | reply to this comment | Votes: 10   

HSCenterconsole

Don't forget topneuro

— HSCenterconsole (View Profile)

Posted on 10/9/2008 9:30:50 AM | | Votes: 6   

sector

if Toyota = freefall then BMW = Niagara falls :)

Toyota has $40billion cash reserves, they could take over BMW with a snap of a finger (not that they wanted to), they've nothing to worry about.

Don't forget BMW is forecasting 40% drop in sales for '08 that's why the huge inventory reductions for the rest of the year.

— sector (View Profile)

Posted on 10/9/2008 10:10:02 AM | | Votes: -8   

QuantumMatrix

LMAO at auto001!!!

auto001=teknik,

You guys seriously think ToyUgly can take over BMW...

What a freakin' joke.. Toyota can't even get a recommendation from Consumer Reports anymore.

Zero percent interest at ToyUgly, come on in... ToyUgly will even skim thousands off the sticker and still finance them at ZERO percent interest for you..

Boatloads of ToyUglys with no homes.. I almost feel sorry for them..

— QuantumMatrix (View Profile)

Posted on 10/9/2008 10:17:33 AM | | Votes: 2   

bigmotov

Quantum, take a deep breath bro! You're going to pass out! Why is a BMW fanboy like yourself getting all bent out of shape over a Toyota sales posting? They are two totally different markets. Everyone is struggling these days. Count to 10 and relax.

— bigmotov (View Profile)

Posted on 10/9/2008 2:21:12 PM | | Votes: 4   

StarSearch

...yeah but 0.9% on a LUXURY car is something to brag about??

— StarSearch (View Profile)

Posted on 10/9/2008 4:13:29 PM | | Votes: 0   

g2ok

Why is that BMW fans and Toyota fans completely flip out over some industry typical sales news.

Toyota is for everyday people.

— g2ok (View Profile)

Posted on 10/9/2008 11:25:08 AM | reply to this comment | Votes: 3   

QuantumMatrix

Notice the deafening silence from the Toyota/Lexus fans..

— QuantumMatrix (View Profile)

Posted on 10/9/2008 4:12:55 PM | reply to this comment | Votes: 2   

StarSearch

if only we could get the same from you and Star...well, same thing.

— StarSearch (View Profile)

Posted on 10/9/2008 4:14:32 PM | | Votes: 2   

topneuro

Everybody is sweating with or without creative accounting. I stated before then and now only Audi and Subaru are making profits at this time. As a Toy/Lex, Nissan, Honda/Acura, Subaru, Audi, BMW, MB fan or whatever you want to call me I will acknowledge that all the above are in trouble, the BMW fanboys however do not, and even when BMW goes 0% APR (yes BMW will go 0%) you guys will remain in denial.

— topneuro (View Profile)

Posted on 10/9/2008 6:02:15 PM | reply to this comment | Votes: 4   

huu76

Quantum,
In a bad year, Toyota still has an operating profit of 12.8 billion, more than all of Germany's socalled "auto" makers.

Drop in operating profit is not a loss. There's a difference between people who know what they're talking about, and you.

For example, BMW's profit dropped 33% in the 2nd quarter of this year, before all the festivities in the financial markets. See the difference? BMW sales are roughly the same, but they lost 33%, Toyota had a drop in o.p. due to lower sales (generally how normal businesses operate). Guess which company is more financially sound, I bet you choose the wrong one.
http://money.cnn.com/2008/08/01/news/international/bmw_earnings/index.htm

— huu76 (View Profile)

Posted on 10/11/2008 12:11:17 AM | reply to this comment | Votes: 0   

huu76

I forgot to mention that Toyota is only now offering 0% while BMW has been throwing 0.9%/1.9% since Sept of 2007.

— huu76 (View Profile)

Posted on 10/11/2008 12:13:12 AM | reply to this comment | Votes: 0   

QuantumMatrix

Huu,
You seriously need to take a job with the FOXNEWS channel, because you can take relevant news and spin it into crap as good as they can.

— QuantumMatrix (View Profile)

Posted on 10/11/2008 3:25:07 PM | | Votes: 1   

QuantumMatrix

BMW's 8% US sales decline in 2008 has been less severe than the industry's 11% drop and Lexus's 15% slide.

— QuantumMatrix (View Profile)

Posted on 10/11/2008 3:37:25 PM | | Votes: 1   

StarSearch

...and yet Toyota manufactures 4 times as many cars as BMW worldwide, not to mention isn't a luxury marquee. Add in the fact that BMW is now moving away from leasing entirely, since their secondary resale market has slowed considerably.

— StarSearch (View Profile)

Posted on 10/14/2008 10:35:48 AM | | Votes: 0   

QuantumMatrix

Which goes to prove you failed Economics 101...

4 times as many cars equals 4 times the loss, plus the fact that toyota doesn't make as much profit off of each sale as BMW.

BMW, unlike Lexus which is a Toyota Premium Brand (matter of opinion), builds a high percentage of it's cars to owner specifications which means the buyers actually seek out BMW to have a car personalized and wait for delivery. Lexus rarely does this.

Lexus like Toyota lumps together packages and dumps them on dealer lots in hopes of finding buyers.

You gotta love BMW's strategy in keeping their brand Premium, unlike the watered down Lexus.

— QuantumMatrix (View Profile)

Posted on 10/14/2008 11:51:52 AM | | Votes: 1   

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