News - Toyota - Toyota at a Loss
Toyota at a Loss
All of the talk has been about The Big Three and how they are failing and need help - but now the light is shining on the other side of the ocean.
Toyota came out today and said that they will have their operating loss in 70 years. They also say they are committed to 0 layoffs but we shall see. I hope their other cost cutting measures they are taking are enough to weather the storm.
It is reported that Toyota has sold 7.05 million cars compared to GM s 6.66 million in the first nine months of the year. It is amazing to me that a company that is about to be the No. 1 car maker in the world can still lose money.
Overall the loss for Toyota comes in at $1.66 billion but when you compare it to when a year earlier they were in the black to the tune of $18.89 billion. What a difference a year and a worldwide economic slump makes eh?
Overall I hope this news makes it out to Joe and Jill Public and helps them understand that its not just the Big Three that are struggling.