Toyota Suffers Serious Losses, Projects More

May 8, 2009

Hong Kong (ChattahBox) – In a shocking end of quarter report, Toyota has reported record losses of $7.7 billion dollars, making the the most losses ever suffered by any Japanese auto company, and has increased fears over future sales.

Toyota has always been the leading Japanese car manufacturer, leading in their numbers by millions of dollars every quarter. But after they projected an already significant loss, they were stunned when the number exceeded even what they had feared with net revenues falling almost 30 percent .

“It appears to take some more time before the financial markets in the U.S. and Europe normalize and the global economy recovers,” Katsuaki Watanabe, the company’s president, said, also citing further predictions that they will lose up to 5 million sales for the remainder of the year, creating further fiscal losses that could potentially sink the company.


Comments

Got something to say? **Please Note** - Comments may be edited for clarity or obscenity, and all comments are published at the discretion of ChattahBox.com - Comments are the opinions of the individuals leaving them, and not of ChattahBox.com or its partners. - Please do not spam or submit comments that use copyright materials, hearsay or are based on reports where the supposed fact or quote is not a matter of public knowledge are also not permitted.