Toyota to post Billion dollar profit

[Ghiadude]

from here
http://news.smh.com.au/breaking-news...0509-ulgt.html

Toyota set to post billion dollar annual profit: report

May 9, 2010 - 3:14PM


Japan's embattled auto giant Toyota will likely post an operating profit of around one billion US dollars for the year to March despite worldwide safety recalls, a local newspaper reported Sunday.

Toyota, which is to release its annual results on Tuesday, may report an operating profit of up to 100 billion yen (1.09 billion US dollars), the Yomiuri newspaper reported, without citing sources.

The world's top automaker posted a net loss of 4.4 billion US dollars in the year to March 2009, the first time ever it had sunk into the red, as global car sales collapsed during the recession.
Its annual operating loss that year was 461 billion yen.

Announcing those results in May last year, Toyota warned that it faced a net loss of 550 billion yen and an operating loss of 850 billion yen in the year to March 2010.

In addition to the industrial slump, Toyota's reputation has taken a severe battering after it recalled about 10 million vehicles worldwide, mostly for problems with sudden acceleration.

But its global sales have nevertheless been recovering steadily. In March, worldwide sales surged 26 percent year-on-year while global production jumped over 80 percent compared with a year ago, when the industry scaled back to cope with evaporating demand.

[Bakis]

+1! Hate Toyota

[Fordman]

Gee their struggling ay...

[Iggypoppin']

All good things come to an end, Toyota was too good for too long, you can't be perfect forever!
Still, I don't hate toyota at all. Just because they make whitegoods on wheels doesn't make them a bad carmaker. They make cars for Joe average, for fleets, etc. They hardly pander to the performance market(any more-Toyota supra was pretty cool in the day)
I hate seeing automakers in bad ways-the people working for them have families and lives, they can't just go under, they need to stay profitable so the workers stay in jobs.

[uranium_death]

Originally Posted by Fordman

Gee their struggling ay...

How do you gee a struggling ay?

What is 'geeing'?
What is an 'ay'?

Now back on topic, Toyota will sort themselves out. They are too well run to continue to go down the wrong path for too long, and the fact is that 'Toyota' is the car that people would probably mostly identify with the quality of reliability.

If I wanted a car that was purely a runaround, a Toyota would be ideal.

However, since I want to look at the car and not fall asleep, I'll stay away.

Regardless, they were not going to suffer for too long i Was sure.

[MethodX]

Toyota buyers simply buy them anyway, refuse to believe the reports on them.
yayy whitegoods.

[jpd80]

Go back a couple of years and Toyota were making around $10 Billion
profit annually and aspiring for a 10% return on revenue...

My how the mighty have fallen and if they keep modelling themselves
after Gm in the US they have further to fall...

No doubt, that Toyota will recover but like GM, I don't believe they will
ever be squeeky clean again in the eyes of the buying public...

[LeadFoot81]

1 billion is a terrible result for Toyota! They will bounce back though

[DJR-351]

Originally Posted by jpd80

No doubt, that Toyota will recover but like GM, I don't believe they will
ever be squeeky clean again in the eyes of the buying public...

Disagree, im the buying public and have bought Landcruisers for 20 years and i will continue to do so, i know plenty of Toyota owners and what happened meant nothing, Toyota stuffed up, they admitted it, they fixed it and life moves on......

[jpd80]

Originally Posted by DJR-351

Disagree, im the buying public and have bought Landcruisers for 20 years and i will continue to do so, i know plenty of Toyota owners and what happened meant nothing, Toyota stuffed up, they admitted it, they fixed it and life moves on......

I didn't mean locally, I was talking globally - especially the USA
where Ford and Honda are making big strides against GM and Toyota.

Toyota USA is about to be embroiled in a long line of civil class action law suits
the US Transport regulation board slapping a puny $16 million fine on them for failing to
disclose/report problems was the dinner bell ringing for the hungry sharks...

The big problem for Toyota is not ultimately the reliability or safety of their cars,
it was the way they failed to respond to recalls that now becoming like quick sand....

[DJR-351]

Originally Posted by jpd80

I didn't mean locally, I was talking globally - especially the USA
where Ford and Honda are making big strides against GM and Toyota.

Roger that....

[jpd80]

Originally Posted by DJR-351

Roger that....

Every time I look at F Trucks, the companion Expedition SUV (not the Explorer)
and the new 6.7 and coming 4.4 V8 diesels coming I cry at missed opportunity by Ford.

[irlewy86]

Originally Posted by jpd80

Every time I look at F Trucks, the companion Expedition SUV (not the Explorer)
and the new 6.7 and coming 4.4 V8 diesels coming I cry at missed opportunity by Ford.

The new Landcruiser V8's are dogs, low mounted turbo's and alternators are a bad mix for an off-roader. The unequal track is causing an unusually high number of rollovers. It's time for Kuzak, Burela and Mulally to sit down and nut out a new F-truck program to put a hole in Toyota Australia's image.

[Fordman]

Originally Posted by uranium_death

How do you gee a struggling ay?

What is 'geeing'?
What is an 'ay'?

If you cant understand it, leave it alone.

[Bossxr8]

It can't be too hard for Toyota to make profits, all they needed to do was cut a few corners.

[vztrt]

Toyota back in the black

http://www.goauto.com.au/mellor/mell...257721000DCC1D

$1.8b profit for Toyota as world number one slashes costs to overcome sales fall

12 May 2010

By RON HAMMERTON

A YEAR after then Toyota chief executive Katsuaki Watanabe apologised for the company’s tardy response to the global financial crisis that plunged the Japanese giant to its first loss since 1950, his successor, Akio Toyoda, has announced a surprise profit.

The relatively slim ¥147 billion ($A1.8 billion) operating profit beat Toyota’s own gloomy predictions of a year ago and marked a ¥608 billion ($A7.3b) turnaround in the fortunes of the world’s number-one vehicle manufacturer, despite a decline in sales and ongoing woes with global recalls.

It was a measure of Toyota’s austerity measures at home and abroad that it was able to return to health while its net revenue fell 7.7 per cent in the financial year ending March 31.

Toyota says it slashed costs by ¥990 billion ($12b) during the year.

Vehicle sales declined about four per cent, to 7.24 million units, which nevertheless was an improvement over the 7.18 million target.

Despite the improved outlook, Toyota still faces stiff headwinds, with class-action lawsuits pending in the United States and investigations by US authorities into the timing of recalls for safety fixes.

Mr Toyoda – grandson of company founder Kiichiro Toyoda – told journalists in Japan at the media conference called to announce the results on Tuesday: “We are still in the storm, but even in the same storm, we see the sky starting to clear up in the distance.”

While Toyota enjoyed a 10 per cent improvement in vehicle sales in Japan last financial year, the company is expecting fewer sales in its domestic market where the Japanese government is set to axe incentives for fuel-efficient cars in September.

Those incentives have helped to make Toyota’s hybrid Prius the top-selling car in Japan for 12 successive months.

Globally, the company is forecasting a small increase in vehicle sales in fiscal year 2010-11, to 7.29 million units, and an operating profit of ¥280 billion ($A3.37b) – up about 22 per cent on last financial year.

Most of Toyota’s pain in the past 12 months has been in North America, where sales fell 10 per cent to 2.16 million units, and Europe, where Toyota vehicle volumes plunged almost 20 per cent. However, the company managed to eke out a small profit in the US, compared with red ink last financial year.

A bright spot was Asia where sales were up about 10 per cent, thanks mainly to the strong Chinese and Indian markets.

In his official statement on the results, Mr Toyoda said he was extremely grateful to Toyota’s dealers and suppliers who had remained fully committed to the brand.

Some analysts regard Toyota’s prediction of a ¥280 billion profit this year as conservative, saying that despite its woes, it could double that figure.

The company has recorded profits in the past three consecutive quarters, with the January-March quarter profit hitting ¥95.3 billion yen ($A1.14b) – a massive improvement on the same period last year.

[vztrt]

http://www.autoblog.com/2010/05/11/t...t-recall-mess/

Toyota earns $1.2B in Q1 amidst recall mess

by Jeremy Korzeniewski (RSS feed) on May 11th 2010 at 1:28PM

Conventional wisdom might tell you that Toyota should have lost loads of money last quarter in the wake of the company's largest-ever global recall and safety scandal. Perhaps it shouldn't surprise us too much to hear that conventional wisdom would be all wrong. In reality, Toyota reported a profit between January and March of this year of $1.2 billion.

This profit comes despite the fact that Toyota reports expenditures related to the recall mess at a little over a billion dollars (or, 100 billion yen) and surely took a monetary hit compared to previous years due to the unprecedented spate of incentives to keep sales rolling. The gurus at Edmunds estimate that Toyota's incentive spending is up by over half (an average of $2,498 per vehicle) compared to the previous year.

According to company head Akio Toyoda, the automaker plans to continue boosting profits by "[offering] high quality, reasonably priced vehicles." That certainly sounds reasonable, no? Executing on that promise, though, is the hard part. Click on past the break for a complete rundown of Toyota's latest financial report.

[Source: The Detroit News, Toyota | Image: David McNew/Getty]