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Old 12-22-2008, 06:33 AM
 
Location: Georgia, on the Florida line, right above Tallahassee
10,474 posts, read 14,151,127 times
Reputation: 6374

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First loss since they started reporting in 1941.
Toyota offers gloomy profit forecast - Autos- msnbc.com

Watanabe vowed Toyota would grow so lean it will be able to realize profitability even if its worldwide sales slide to as low as 7 million vehicles — what he called the basic "bottom line" for Toyota.
He promised his workers would offer "ideas as well as sweat" to steer the automaker through difficult times.

Contrast that to the United States. I don't see a lot of lean. I see some promises of lean and I see a lot of resistance to going lean. The UAW is fighting wage cuts and Bush is punting to Obama, whom they will try to sway. Mually, Ceo of Ford, making 21 million says "I think I'm OK where I am."
Bloomberg.com: Worldwide

This mentions the obvious. Foreign car companies are winning the battle of public perception. Even the articles I referenced make a case for that. Japan? We'll bite the bullet and lance the wound. The Big Three? We'll be in our air conditioned tents while our doctor is chauffered here.
Ten Things The Taxpayer Should Know About The U.S. Auto Industry Now That They Own It - BusinessWeek
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Old 12-22-2008, 06:44 AM
 
8,778 posts, read 17,190,238 times
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Yes, very interesting. Must be those damn UAW contracts and pension obligations that will cause the vaunted Toyota to lose money.
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Old 12-22-2008, 07:48 AM
 
866 posts, read 3,876,842 times
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This does not come as a suprise at all, it is all of the automakers that are down not just the Detroit Three. Look at the sales information throughout the year. Just last month Toyota's sales sank over 30% since last year and so did Honda and Nissan.
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Old 12-22-2008, 07:59 AM
 
8,885 posts, read 7,866,710 times
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A lot of households now own an extra car from last summer's oil bubble. They went out and bought a new hybrid or a used econobox for commuting. At the same time, dealers were refusing to accept SUVs and minivans as trades unless the owners took big haircuts. Many car buyers just held onto their gas guzzlers rather than trade them in since they owed more than the vehicles were worth.
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Old 12-22-2008, 08:05 AM
 
Location: Atlanta, GA
2,290 posts, read 5,114,042 times
Reputation: 789
Quote:
Originally Posted by 70Ford View Post
First loss since they started reporting in 1941.
Toyota offers gloomy profit forecast - Autos- msnbc.com

Watanabe vowed Toyota would grow so lean it will be able to realize profitability even if its worldwide sales slide to as low as 7 million vehicles — what he called the basic "bottom line" for Toyota.
He promised his workers would offer "ideas as well as sweat" to steer the automaker through difficult times.

Contrast that to the United States. I don't see a lot of lean. I see some promises of lean and I see a lot of resistance to going lean. The UAW is fighting wage cuts and Bush is punting to Obama, whom they will try to sway. Mually, Ceo of Ford, making 21 million says "I think I'm OK where I am."
Bloomberg.com: Worldwide

This mentions the obvious. Foreign car companies are winning the battle of public perception. Even the articles I referenced make a case for that. Japan? We'll bite the bullet and lance the wound. The Big Three? We'll be in our air conditioned tents while our doctor is chauffered here.
Ten Things The Taxpayer Should Know About The U.S. Auto Industry Now That They Own It - BusinessWeek
While this loss is based on "worldwide" operating and/or sales, I'd be curious to know how the U.S. market affected their loss. It would seem to me that Toyota (and Ford as well) are doing better in non-U.S. markets. So I'm curious to know what their business models (and profits) are, in Europe, Australia, Africa and Asia.
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Old 12-22-2008, 09:53 AM
 
48,509 posts, read 86,079,672 times
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I saw a report that said auto alses are down verywhere in the world.Didn't pay attntion to the figures tho.
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Old 12-22-2008, 10:07 AM
 
Location: Heartland Florida
9,324 posts, read 24,252,214 times
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So where is their TARP? Why cannot they suck from the slush fund? Oh wait, perhaps they want to come back profitable later...
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Old 12-22-2008, 12:43 PM
 
Location: Los Angeles Area
3,306 posts, read 3,552,147 times
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Quote:
Originally Posted by tallrick View Post
So where is their TARP? Why cannot they suck from the slush fund? Oh wait, perhaps they want to come back profitable later...
I don't know ask the Japanese government.
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Old 12-22-2008, 05:09 PM
 
19,089 posts, read 20,632,263 times
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Just wait, I am waiting for the Congress to start appealing to the public about the "need" to bailout foreign companies... and then the "need" to bailout foreign governments...
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Old 12-22-2008, 09:05 PM
 
Location: Mission Viejo, CA
2,498 posts, read 10,449,581 times
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Quote:
Originally Posted by backfist View Post
While this loss is based on "worldwide" operating and/or sales, I'd be curious to know how the U.S. market affected their loss. It would seem to me that Toyota (and Ford as well) are doing better in non-U.S. markets.
From the LA Times: "Toyota's sales in the U.S. -- the carmaker's largest single market -- fell 34% last month and are down more than 13% this year."
^^^
I'd say that indicates the slump in the USA is hurting them the most.

Toyota predicts its first annual operating loss in 7 decades - Los Angeles Times
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