Toyota President Expresses Concern That A Profit Crisis Is Near

Foreign exchange rates and spiraling costs hammered profits at Toyota Motor Corp., derailing Japan’s largest carmaker from a third-straight year of record results and spurring President Akio Toyoda to warn of an impending "sense of crisis."

Operating profit tumbled 20 percent to 438.9 billion yen ($3.94 billion) in the carmaker’s fiscal fourth quarter ended March 31. Net income slid 6.6 percent to 398.4 billion yen ($3.58 billion), the company said Wednesday while announcing full-year earnings results.

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TheSteve - 5/10/2017 1:51:13 PM

+3 Boost

Ouch! And this is coming from the world's largest car manufacturer (as at Q1 2017). I believe this is part of a global trend, and it's just the tip of the iceberg of what's to come.

MDarringer - 5/11/2017 11:06:44 AM

0 Boost

Worldwide, Toyota simply has too many similar models. Slashing and burning redundancies should be priority #1. They need to get leaner and crush Nissan/Mitsubishi and then move on to Honda. All three brands are staggering at this point.

skytop - 5/13/2017 10:45:21 PM

+1 Boost

At the TOYota dealer yesterday, I looked at the Tacoma Pickup. On the factory window sticker, TOYota had the audacity to charge $995. for paint protection. Also, they charged $699. for TWO oil changes (but they were all synthetic! Ha!).
This is how TOYota insults its customers, big time!