Toyota shocked the auto industry last spring when it announced a nearly $8 billion loss for its most recent fiscal year. All of a sudden, Toyota proved to be just as vulnerable as every other automaker. Today, however, it looks like the combination of strong sales of the all-new Prius and hefty incentives for more efficient vehicles in Japan is helping to bring the company a lot closer to break-even. The company had previously projected an $8.9 billion loss for the current fiscal year; Japanese analysts at NHK think that it could be almost half of that at about $5 billion.
When Toyota NA president Yoshi Inaba was in Detroit recently, he said Toyota was unlikely to return to profitability before 2011 and it would not happen before the North American market recovers.
Photos copyright (C)2009 Sam Abuelsamid / Weblogs, Inc.
[Source: Reuters]
Toyota expected to lose less money this year thanks to strong hybrid sales originally appeared on Autoblog Green on Fri, 31 Jul 2009 11:46:00 EST. Please see our terms for use of feeds.
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