Toyota Stalls Out, Stupefying Markets

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Sunday, May 11, 2008 11:49:27 PM

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Toyota Stalls Out, Stupefying Markets Thursday, May 08, 2008
Forbes -- HONG KONG - Toyota Motor stunned markets on Thursday by posting an unexpected 28% drop in fourth-quarter profit and forecasting a decline of similar magnitude in annual net profit in the current fiscal year. Toyota, the world's second-largest automaker by production volume after General Motors (nyse: GM - news - people ), reported Thursday that its net profit fell 28%, to 316.8 billion yen ($3.0 billion), for the three months ended in March, down from 440.1 billion yen ($4.2 billion) in the comparable period the previous year. The January-March quarterly net profit figure fell below an average estimate of 342.3 billion yen ($3.3 billion) from 20 brokerages surveyed by Reuters Estimates, thanks to a stronger yen and weaker sales in the key North American market.
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	Thursday, May 08, 2008 Forbes -- HONG KONG - Toyota Motor stunned markets on Thursday by posting an unexpected 28% drop in fourth-quarter profit and forecasting a decline of similar magnitude in annual net profit in the current fiscal year. Toyota, the world's second-largest automaker by production volume after General Motors (nyse: GM - news - people ), reported Thursday that its net profit fell 28%, to 316.8 billion yen ($3.0 billion), for the three months ended in March, down from 440.1 billion yen ($4.2 billion) in the comparable period the previous year. The January-March quarterly net profit figure fell below an average estimate of 342.3 billion yen ($3.3 billion) from 20 brokerages surveyed by Reuters Estimates, thanks to a stronger yen and weaker sales in the key North American market. Visit Forbes for full article

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jmuse Rookie Author Long Island Posts:3 Points:1,685 Joined:May 2008	Message Posted: 5/11/2008 10:15:11 AM	Ignore jmuse Report Abuse
	My heart bleeds for Toyota, they ONLY made $3 BILLION.
Gas_Buzzer Champion Author South Carolina Posts:5,385 Points:916,440 Joined:Sep 2005	Message Posted: 5/11/2008 9:51:10 AM	Ignore Gas_Buzzer Report Abuse
	...but Toyota has done well in NASCAR.
kingdick Champion Author Minnesota Posts:16,350 Points:1,337,020 Joined:Aug 2004	Message Posted: 5/9/2008 10:30:28 AM	Ignore kingdick Report Abuse
	I did not get much use out of my toyota land cruiser. It is setting in my garage because I can not afford the trans repairs. It got to 69785 miles before the trans quit. I doubt I would ever buy another toyota. Most of my Jeeps got well over 150000 miles beford I sold them. This started with the first one, a 1946 that only got to 105000 before I sold it in New Mexico for more than I paid for it.
kingdick Champion Author Minnesota Posts:16,350 Points:1,337,020 Joined:Aug 2004	Message Posted: 5/9/2008 10:17:41 AM	Ignore kingdick Report Abuse
	----------------------------------- Automakers built the cars, trucks and suv's that sold. We the Buyers select what We want and they supply. -----------------------------------
Kolinaa Rookie Author Michigan Posts:86 Points:18,025 Joined:Apr 2008	Message Posted: 5/9/2008 10:09:50 AM	Ignore Kolinaa Report Abuse
	not everyone can afford to buy a different car, new or used.
EnderNY Champion Author Dallas Posts:1,246 Points:241,555 Joined:Jun 2005	Message Posted: 5/9/2008 10:07:47 AM	Ignore EnderNY Report Abuse
	neither new or used cars are selling. The lots around here are full.
esquared All-Star Author Oklahoma City Posts:674 Points:485,250 Joined:Jan 2006	Message Posted: 5/9/2008 10:05:58 AM	Ignore esquared Report Abuse
	mckellyb, the calculus may have changed, but in 2004 when I opted for a 2005 4-cylinder Camry over a Prius, the cost differential (including a $2500 hickey on top of the Prius's STICKER price) was going to take closer to 10 years to recoup. Hence, I'm still driving my Camry, getting 35 mpg overall because I drive no faster than the speed limit and keep the car maintained, tires properly inflated, etc. In other words, somewhat better than what the EPA said I could expect.
RC_RACER Veteran Author Tacoma Posts:301 Points:100,300 Joined:Jun 2004	Message Posted: 5/9/2008 10:02:28 AM	Ignore RC_RACER Report Abuse
	with these outragis gas prices people are selling thier second and third cars allowing more used vehicles to be availble and who can afford a new car now. so new cars are not selling.
boniface4jesus Rookie Author Gary Posts:20 Points:6,375 Joined:Mar 2006	Message Posted: 5/9/2008 9:59:52 AM	Ignore boniface4jesus Report Abuse
	With higher costs for gas and food, who can afford to buy new cars.
mailman79 Sophomore Author Atlanta Posts:152 Points:221,865 Joined:Jan 2005	Message Posted: 5/9/2008 9:56:34 AM	Ignore mailman79 Report Abuse
	old news
sailormon Sophomore Author Michigan Posts:159 Points:102,930 Joined:Jul 2007	Message Posted: 5/9/2008 9:50:31 AM	Ignore sailormon Report Abuse
	Toyota has weaker sales in North America because our ecomony is really hurting. People are just not buying as many new cars.
mckellyb Champion Author Las Vegas Posts:2,382 Points:451,880 Joined:Sep 2005	Message Posted: 5/9/2008 9:48:41 AM	Ignore mckellyb Report Abuse
	On CNBC, not 15 minutes ago, there was a story about how long it takes to monetarily recover from the extra hybrid cost at purchase. For a Highlander, 12 years. Civic, 4.8 years. Prius, 3.5 years and the comparison was a 4-cylinder Camry. This is comparing new to new. If you look at the lost comparing old, yet paid for, and new, well, we don't want to go down that path. Even figuring $1K per year in repairs on the old car, it's not close.
GCL Champion Author San Jose Posts:9,189 Points:956,880 Joined:Aug 2003	Message Posted: 5/9/2008 9:48:00 AM	Ignore GCL Report Abuse
	Maybe they should have kept the Rav4 EV in their line-up. America needs an alternative vehicle, and the Electric Car with a 100 mile+ range is a good fit for most Americans - especially if you have your own solar array.
courier400 Champion Author Kansas Posts:5,848 Points:1,404,400 Joined:Mar 2004	Message Posted: 5/9/2008 9:46:36 AM	Ignore courier400 Report Abuse
	Make something that gets 60 mpg and people will line up.. and if anyone can Toyota can.
Chitowner Veteran Author Omaha Posts:320 Points:96,130 Joined:Jul 2007	Message Posted: 5/9/2008 9:43:53 AM	Ignore Chitowner Report Abuse
	people cannot afford to buy a car, get it?
Aserdaten Veteran Author Florida Posts:336 Points:518,185 Joined:Apr 2006	Message Posted: 5/9/2008 9:43:14 AM	Ignore Aserdaten Report Abuse
	My sympathies! Only a US$3 billion profit last quarter? Welcome to the realities of what US auto companies have recently endured.
woos777 All-Star Author Washington Posts:652 Points:480,255 Joined:Sep 2006	Message Posted: 5/9/2008 9:43:08 AM	Ignore woos777 Report Abuse
	Yes, I'm a Honda fan myself. 2000 Honda Accord, 4 cyl, 34 MPG, 212,000 miles. [Edited by: woos777 at 5/9/2008 10:44:06 AM EST]
Gerund1 Veteran Author Toronto Posts:397 Points:735,515 Joined:Apr 2003	Message Posted: 5/9/2008 9:33:56 AM	Ignore Gerund1 Report Abuse
	They are just doing what the big three already know is stupid.
Dancin All-Star Author Toronto Posts:736 Points:1,031,625 Joined:Mar 2004	Message Posted: 5/9/2008 9:33:49 AM	Ignore Dancin Report Abuse
	Ain't it a shame.
CyanSquirrel Veteran Author Virginia Posts:252 Points:45,880 Joined:Jun 2004	Message Posted: 5/9/2008 9:33:41 AM	Ignore CyanSquirrel Report Abuse
	Toyota built such competent cars that people can feel safe buying a used one and keeping it for many years. Double-edged sword, eh? Still, goodwill is high towards Toyota, so don't much it up by making planned obsolescence your business strategy! Hang in there...
ESHI Rookie Author Maine Posts:80 Points:498,625 Joined:Jan 2006	Message Posted: 5/9/2008 9:32:55 AM	Ignore ESHI Report Abuse
	I've often wondered why the small cars that Toyota makes don't get better gas mileage?
LukeIN All-Star Author Indianapolis Posts:829 Points:151,735 Joined:Nov 2007	Message Posted: 5/9/2008 9:32:33 AM	Ignore LukeIN Report Abuse
	I think that people in this economy are not looking to buy new cars of any kind!
Brockvillian Rookie Author Ontario Posts:20 Points:194,200 Joined:May 2007	Message Posted: 5/9/2008 9:26:07 AM	Ignore Brockvillian Report Abuse
	I'm sure they will recover. But I still like Honda's more. :D
w4kh Champion Author Riverside Posts:3,100 Points:532,390 Joined:May 2004	Message Posted: 5/9/2008 9:25:50 AM	Ignore w4kh Report Abuse
	Net profits of $1 BILLION each MONTH is a poor performance? With the dollar weak against the world's currencies, the margins and of imported cars in the US has to fall -- and prices have to increase... Not Toyota's fault... it's "W"'s revenge for building solid fuel efficeint vehicles that reduce demand for his Oil buddies ;)
whew Champion Author South Carolina Posts:3,717 Points:781,050 Joined:Aug 2005	Message Posted: 5/9/2008 9:22:42 AM	Ignore whew Report Abuse
	Well hello when the money crunch hits everything eventually comes to a screeching halt.
McNasties Champion Author Milwaukee Posts:3,415 Points:668,400 Joined:May 2006	Message Posted: 5/9/2008 9:18:27 AM	Ignore McNasties Report Abuse
	Obama is stupefying.
Japsmith All-Star Author Tacoma Posts:697 Points:146,265 Joined:Sep 2007	Message Posted: 5/9/2008 9:16:00 AM	Ignore Japsmith Report Abuse
	Even with the hybrids in the market, Toyota had taken good solid cars out of the US market because of previous poor sales, but cars like the Echo need to come back to the US. With record gas prices, cars like the Echo, although not a hybrid, is capable of getting 55 MPG on the highway. A solid choice for those who don't want to spend over $20K for a Prius.
CruisinLinda Champion Author Tallahassee Posts:3,769 Points:776,425 Joined:Sep 2005	Message Posted: 5/9/2008 9:13:57 AM	Ignore CruisinLinda Report Abuse
	Toyota is in one of the best positions of any automaker. It makes some of the best-built, most reliable, fuel-efficient cars in the world, especially the mid-sized, highly efficient Prius hybrid. Owners of gas guzzlers are looking for more fuel-efficient vehicles now.
s6sputnik Champion Author Austin Posts:1,253 Points:256,360 Joined:Jun 2007	Message Posted: 5/9/2008 9:13:12 AM	Ignore s6sputnik Report Abuse
	CEO get a bonus?
Chazzer Champion Author Nevada Posts:7,160 Points:1,549,010 Joined:May 2002	Message Posted: 5/9/2008 9:02:55 AM	Ignore Chazzer Report Abuse
	Yeah, I wonder!
stevewwvu Champion Author West Virginia Posts:1,181 Points:202,690 Joined:Mar 2007	Message Posted: 5/9/2008 9:02:06 AM	Ignore stevewwvu Report Abuse
	yeah they made money who cares make a car that gets 100 miles a gallon then watch that profit margin
tomok Champion Author Portland Posts:6,125 Points:528,135 Joined:Aug 2006	Message Posted: 5/9/2008 9:01:29 AM	Ignore tomok Report Abuse
	But toyota still made a profit - its net profit fell 28%!........
rjoeh All-Star Author Michigan Posts:524 Points:889,310 Joined:Jun 2004	Message Posted: 5/9/2008 9:01:03 AM	Ignore rjoeh Report Abuse
	Your surprised??? Its just a sign of the times... as fuel costs go up... consumers are faced to make choices... and new cars are not one of them.
kanmandoo Veteran Author Detroit Posts:415 Points:730,120 Joined:Jun 2005	Message Posted: 5/9/2008 8:59:47 AM	Ignore kanmandoo Report Abuse
	I don't think I feel so for them.
Mooseman1 Champion Author Manitoba Posts:1,037 Points:135,635 Joined:Jul 2007	Message Posted: 5/9/2008 8:59:43 AM	Ignore Mooseman1 Report Abuse
	I find this difficult to believe. Toyota has captured a good piece of the small car market for years now. They need another independent study to substantiate this claim.
joel27nc All-Star Author Raleigh Posts:523 Points:66,150 Joined:Mar 2008	Message Posted: 5/9/2008 8:55:34 AM	Ignore joel27nc Report Abuse
	All the money going to pay for gas, no one has any to buy a new car.
tobasco Champion Author Los Angeles Posts:2,369 Points:691,145 Joined:Mar 2004	Message Posted: 5/9/2008 8:54:22 AM	Ignore tobasco Report Abuse
	No money to buy new cars.
kadiehl Rookie Author Allentown Posts:6 Points:68,870 Joined:Sep 2006	Message Posted: 5/9/2008 8:51:23 AM	Ignore kadiehl Report Abuse
	I would expect all auto manufacturers to have declining sales.
gasman50 All-Star Author Portland Posts:547 Points:640,580 Joined:Nov 2005	Message Posted: 5/9/2008 8:48:46 AM	Ignore gasman50 Report Abuse
	Old news
Somis1 Champion Author Ventura Posts:3,890 Points:886,420 Joined:Jul 2005	Message Posted: 5/9/2008 8:47:43 AM	Ignore Somis1 Report Abuse
	Maybe their energy costs are hurting them.
spunky4443 Sophomore Author Washington Posts:181 Points:265,940 Joined:May 2005	Message Posted: 5/9/2008 8:47:29 AM	Ignore spunky4443 Report Abuse
	Boo- Hoo- Hoo, Toyota is feeling the PINCH, its more than a pinch for me.
gasie1 Champion Author Maine Posts:1,056 Points:762,735 Joined:Nov 2005	Message Posted: 5/9/2008 8:47:20 AM	Ignore gasie1 Report Abuse
	Many of us can not afford a new car because of the high gas prices.
trzeciak Rookie Author Dayton Posts:77 Points:34,005 Joined:Aug 2002	Message Posted: 5/9/2008 8:46:30 AM	Ignore trzeciak Report Abuse
	Toyota - Stupefied.
doulosx Veteran Author Columbus Posts:465 Points:343,725 Joined:Sep 2005	Message Posted: 5/9/2008 8:46:17 AM	Ignore doulosx Report Abuse
	With all the doom and gloom the media puts out no wonder no one wants to buy cars.
CdnGlassLady Veteran Author Ontario Posts:260 Points:26,900 Joined:Apr 2008	Message Posted: 5/9/2008 8:46:12 AM	Ignore CdnGlassLady Report Abuse
	I agree that assembled in North America is not the same as MADE in North America. I would like to fantasize that perhaps folks are actually buying made at home
BlueBike Champion Author San Jose Posts:1,807 Points:407,025 Joined:Feb 2007	Message Posted: 5/9/2008 8:44:36 AM	Ignore BlueBike Report Abuse
	When you are spending so much on food and gas there is not as much for a new car.
frede2 Champion Author Texas Posts:2,755 Points:640,885 Joined:May 2005	Message Posted: 5/9/2008 8:42:42 AM	Ignore frede2 Report Abuse
	they need to by oil company stock it look like.
Greatace Sophomore Author Tampa Posts:165 Points:205,625 Joined:Apr 2007	Message Posted: 5/9/2008 8:38:00 AM	Ignore Greatace Report Abuse
	We can't afford it!!!
scrounger Champion Author Vancouver Posts:5,375 Points:1,505,835 Joined:Mar 2003	Message Posted: 5/9/2008 8:37:07 AM	Ignore scrounger Report Abuse
	should I feel sorry for them?
brogan56 Champion Author Colorado Springs Posts:8,571 Points:1,376,745 Joined:Mar 2004	Message Posted: 5/9/2008 8:36:59 AM	Ignore brogan56 Report Abuse
	Boy those Tundras really were a boon for Toyota!

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