Toyota's Quarterly Global Profits Expected To Drop by 50%

Toyota Motor Corp and Nissan Motor Co may report profit fell last quarter, as plunging vehicle demand and currency swings force Asian carmakers to abandon earnings goals.

Toyota's net income for the three months ended Sept. 30, probably fell 50 percent to 227 billion yen ($2.28 billion), according to five analysts surveyed by Bloomberg News. The company's full-year profit will be 1.05 trillion yen, 16 percent lower than its forecast, according to analysts.

Financial market turmoil and weakening economies have sapped auto demand worldwide, prompting Asian automakers including Toyota, Honda Motor Co. and Hyundai Motor Co. to cut production in Asia, Europe and North America. For Japanese automakers, the yen's strength against the dollar and euro further erodes the value of overseas revenue.

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toolatetorace - 10/23/2008 10:17:02 PM

0 Boost

Toyota and Walmart draw on such a defined traits

inspirion7 - 10/23/2008 11:50:12 AM

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Great point but hay as long as Toyotains have their Prius or Camry, it doesn't matter.

WorldofLuxury - 10/24/2008 2:18:45 AM

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Don't forget to mention that when a big company goes up high to its limits, it HAS to come back down because there are only so many buyers when time are good and so little when times are bad.

Honestly, we know that there's an unlimited number of reasons why our reasons still don't apply to all the stats, but we all have to admit that times are bad at the moment...
...so, people...Please, please, PLEASE, don't make anymore loans!!! If you can't afford something unimportant, DON'T buy it. Everyone has to contribute to the idea of being conservative for our country to become prosperous again. (I will so no more.)

krackerhatesme - 10/24/2008 12:04:39 AM

+1 Boost

Right... and at least Toyota created jobs here by building plants in several states... not Mexico or Canada like GM and other so called "Domestics" If they don't want to work for Toyota they can work somewhere else.

vman1013 - 10/23/2008 5:36:02 PM

-1 Boost

there's no doubt that toyota has union workers. they just don't have to operate under the antequated work rules that the Detroit 3 autoworkers operate under.

and trust me, there is no way Toyota will escape this cycle without laying people off. if they didn't lay off workers, that would be stupid.

i do feel bad for anyone who has been laid off (having been laid off myself) but no company is going to pay an employee to sit around and do nothing.