Toyota Profits Stumble With a 28% Drop

Toyota Profits Stumble With a 28% Drop
Toyota said the strong yen and weaker US sales took a bite out of January-March earnings but projected worse to come: A 27% plunge in full-year profit - the first drop in seven years.

The results and outlook released Thursday highlight how a tough North American auto market is hammering the Japanese automaker.

Unfavorable currency swings are adding to a growing list of problems for Toyota Motor Corp. (TM), including soaring material and energy costs and a stagnant auto market in Japan, its home market.


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AgentOrangeAgentOrange - 5/8/2008 10:41:12 AM
+5 Boost
Well boo-fricken-hoo..


silver1silver1 - 5/8/2008 11:40:16 AM
+2 Boost
Why would you won't Toyota to die? Jeolous?


_43LE_43LE - 5/8/2008 12:21:50 PM
-1 Boost
It's a sad case when people take pleasure in seeing others' misfortunes. Very un-evolved.


EL34EL34 - 5/8/2008 10:56:25 AM
-4 Boost
What a bunch of stumble bums :-/


_43LE_43LE - 5/8/2008 12:22:53 PM
-1 Boost
If you call Toyota stumble bums I wonder what GM should have been called in the past, or any other company that has decreased profits.


91z4me91z4me - 5/8/2008 11:28:31 AM
0 Boost
It is interesting that many domestic fans have claimed currency manipulation, by the Japanese, as a reason for Toyota's profitability and now that the dollar seems to be in a free fall Toyota is losing profitability rather quickly.

Not claiming anything, just pointing that out.


enthusiastx11enthusiastx11 - 5/8/2008 3:46:05 PM
0 Boost
HOLY CRAP! that's a MASSIVE drop!


simmonsdpsimmonsdp - 5/8/2008 4:25:51 PM
0 Boost
And you wonder why our government supports a weak dollar??? The weak dollar will help the US for the long haul..........


autoproautopro - 5/8/2008 5:22:09 PM
0 Boost
Wow their profits dropped 28%,but they still made 3.05 billion.GM lost 3.3billion for the same 3mo period that's a 6billion dollar plus swing.They also have over 150billion in cash reserves.Dont worry Toyota is still KING KONG.


BMW4me4everBMW4me4ever - 5/8/2008 6:13:36 PM
+1 Boost
funny you should say that cause you were saying about a week ago that BMW was in dire straights after posting a 300 million write-off. I should say told you so. All companies are going to take a big hit in profit. At 28% that is big. Expect more to come from other manufacturers like Mercedes, Audi, Jaguar ( oh wait they are already in the toilet ), Nissan and so on.


BMW4me4everBMW4me4ever - 5/8/2008 8:54:50 PM
0 Boost
4+ billion is alot of money no matter how much your company is worth. I remember that about 6 to 7 years ago when GM and Ford were starting these huge decreases in revenue, everyone said no big deal because they have alot of revenue. Look where GM and Ford are at the present. Not saying Toyota is going to have the same fate, but that is a HUGE drop for the 1st Quarter of 2008. Hopefully, Toyota is taking steps to mend this.


jt716jt716 - 5/8/2008 7:18:25 PM
0 Boost
GM still had a loss at least Ford made $100 million



1BadMan1BadMan - 5/8/2008 7:32:02 PM
0 Boost
Tough market conditions for all. 28% is huge. Let's hope things get better for all of us.


toolatetoracetoolatetorace - 5/8/2008 11:01:03 PM
0 Boost
They tried to hold up the yen as long as they could so we could keep buying their cars , looks like the party is over


autoproautopro - 5/9/2008 6:30:36 PM
+1 Boost
Its time to weed out some of the weak car companies,these tough times can do that.
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