For the fiscal year ending in March, Toyota Motor Europe was able to reduce its operating loss even as sales dropped sharply. Toyota Europe cited its aggressive cost-cutting measures for this result.
Its operating loss fell to 33 billion yen ($357 million) from having incurred a loss of 143.3 billion yen in its 2009 fiscal year. For the past fiscal year, Toyota Europe sold 858,000 vehicles, standing for a 19.2% drop from the 1.06 million units sold in the 2009 fiscal year. The recalls of over 1.7 million cars that were announced in January had an impact on sales. Included in the recalls were the top-selling Auris, Avensis, Aygo, Yaris and Prius model lines.
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