Toyota to post first ever operating loss
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Times are really bad when even Toyota are losing money.
Toyota, the world's biggest car maker, has forecast its first ever operating loss due to the slide in car sales across the world.
The Japanese manufacturer has cut its group operating forecast to a loss of $1.7 billion for the year to end-March.
Toyota had made a record operating profit of $25.2 billion last year.
"This is very, very, very bad," Koichi Ogawa, chief portfolio manager at Daiwa SB Investments, told Reuters. "There's a chance they could fall into the red in the next business year as well.
"This is also not just a problem for Toyota. What is good for Toyota is good for the Japanese economy."
Honda, who pulled out of Formula One earlier, had cut its annual profit forecast by 67 percent last month.
Toyota has insisted that it remains committed to Formula One despite the global crisis and team president John Howett said he is not concerned about the situation.
"Clearly I guess everybody, not only motorsport teams but in all sports, faced with the financial turmoil at the moment, is managing their business correctly , but I don't think we are living hand-in-mouth or from day-to-day," Howett told BBC Radio 5 Live.
He is also confident the new cost-cutting measures agreed by the teams will help reduce budgets significantly.
"I think it is a very pragmatic approach that will allow all teams to reduce costs significantly, the DNA of F1 is retained and the intention of FOTA is to continue in the early part of next year once the initial wave of improvements have been introduced to look at further changes," he added.
Formula One tyre supplier Bridgestone also said on Monday that it was cutting its operating profit forecast for 2008 by 24 percent. -
Toyota is still doing well in Singapore...
Vios, Altis and Camry are still roaming the streets...Woohohoho....
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Originally posted by lianamaster:
Toyota is still doing well in Singapore...
Vios, Altis and Camry are still roaming the streets...Woohohoho....
Come next year to feel the impact
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I hope everyone still has their bicycles with them.
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Originally posted by Student:
Come next year to feel the impact
Now that the quota for cars has shrunk.....
I guess new car population will certainly drop.
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Originally posted by lianamaster:
Now that the quota for cars has shrunk.....
I guess car population will certainly drop.
certainly hope so...my guess is..proportionately, more posh cars than mid ranged cars
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Yup....
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toyota can survive , no problem,
but the big 3 in US. haha.....
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Originally posted by lianamaster:
Now that the quota for cars has shrunk.....
I guess car population will certainly drop.
seiow.. who on earth would be in their right mind to give up their car juz bcos "so & so" says that it would be a difficult time ahead???car population will still remain HIGH.. maybe what we can see is only a slow down in growing...
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Originally posted by lianamaster:
Now that the quota for cars has shrunk.....
I guess car population will certainly drop.
seiow.. who on earth would be in their right mind to give up their car juz bcos "so & so" says that it would be a difficult time ahead???car population will still remain HIGH.. maybe what we can see is only a slow down in growing...
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Originally posted by si_bei_kay_po:
seiow.. who on earth would be in their right mind to give up their car juz bcos "so & so" says that it would be a difficult time ahead???car population will still remain HIGH.. maybe what we can see is only a slow down in growing...
I guess you got it wrong here....
My meaning of 'car population' is.....sales of new cars will drop proportionately to the shrinking of the quota of new cars. You are right that the overall car population is still high....and yes growth will slow down due to shrinking new car population.....
I have edited my thread and hope that clarifies....
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Originally posted by lianamaster:
Now that the quota for cars has shrunk.....
I guess new car population will certainly drop.
After few more years, the car population would drop also because the rate of replacement is lower.
LTA so smart, increase number of COEs to earn more money, then got excuse to come up with ERP because there are too many cars. Then now reduce quota... and few years later, ERP will still most likely be there...
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Govt. always like that.... But at least we know how smart they are...that makes us smart too...
U are right... but the immediate picture we see is sales of new cars will drop one....
As for the overall picture...we just have to wait and see...
Currently, not many are willing to give up their cars to switch to public transport unless they are in a really tight financial situation....
There's always 2 sides of an argument here so.... whatever it is...those who wants to buy cars will still buy cars, those who prefers public transport will take public transport...
End of story.
