Toyota worried about the current dollar-yen rate

Toyota Motor Corp. gripes about the current dollar-yen rate that makes it difficult for the company to return to profit on an unconsolidated level. In a news conference at the Japan National Press Club, President Akio Toyoda said that the current situation is “very tough,” referring to the weak US currency.

Toyoda added that when you get to its level, it becomes a challenge to return to profit on sales growth alone. He also discussed Toyota ’s aim to return to profit at the parent level as soon as it can despite predictions that global sales will drop 18% from 2008 to 7.34 million vehicles this year. That leaves 30% of its production capacity unused. Toyoda had taken over the company last June as it faced the financial crisis that pushed other automakers into bankruptcy.
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truckman - 10/6/2009 4:57:44 AM

+1 Boost

Huu76, are you suggesting the Japanese think that there is unfair trade practices? Did you notice that Japan doesn't allow foreign vehicles into the country, just a hand full, but I bet that there are heavy tarrifs, now who is unfair? I wonder if there CEOs will get a raise? Maybe a buy out for millions, that will help, It appears to be an on going theme with our governments.

Lexurious - 10/6/2009 9:38:02 AM

+1 Boost

watch the koreans currency get so strong to the US that they're worth more than toyota..not anytime soon but in 5-10 years time. food for thought to all those who are hating on the koreans for trying their best. don't be arrogant