Toyota rumored to be asking for 2 billion bail out....
#1
Join Date: Mar 2007
Location: Winthrop Harbor Illinois/ Presque Isle Wisconsin
Posts: 1,251
Toyota 2 billion bail out....Honda Down 38%
Why not try and go to the trough and suck up some stimulus fat? But Toyota?
no link yet, was just on the news.
Auto industry numbers very bad!
Chrysler down 55%, Ford 50% GM down 48%
Toyota and Honda predicted to post a big downward trend also.
6 million fewer vehicles sold this year???
Might be possible.
no link yet, was just on the news.
Auto industry numbers very bad!
Chrysler down 55%, Ford 50% GM down 48%
Toyota and Honda predicted to post a big downward trend also.
6 million fewer vehicles sold this year???
Might be possible.
Last edited by Tork; 03-03-2009 at 08:37 PM.
#2
Why not try and go to the trough and suck up some stimulus fat? But Toyota?
no link yet, was just on the news.
Auto industry numbers very bad!
Chrysler down 55%, Ford 50% GM down 48%
Toyota and Honda predicted to post a big downward trend also.
6 million fewer vehicles sold this year???
Might be possible.
no link yet, was just on the news.
Auto industry numbers very bad!
Chrysler down 55%, Ford 50% GM down 48%
Toyota and Honda predicted to post a big downward trend also.
6 million fewer vehicles sold this year???
Might be possible.
I would not doubt it. Toyota decided to try and follow in the footsteps of the big American 3 and sunk a large amount of money into the Tundra line, which is now a very very slow seller.
Of course that is not the main reason for their declining sales, but realistically and on just a baseline opinion there is no urge or spirit behind purchasing a toyota.
#3
Join Date: Mar 2007
Location: Winthrop Harbor Illinois/ Presque Isle Wisconsin
Posts: 1,251
OK link, Toyota having first loss since 1950....
seeking Japanese government backed loan
Toyota Bailout / WILX News 10 Lansing/Jackson-, Breaking News that's local from where you live
seeking Japanese government backed loan
Toyota Bailout / WILX News 10 Lansing/Jackson-, Breaking News that's local from where you live
Toyota's financing unit is in talks with a Japanese government-backed bank on possible lending, the automaker said Tuesday, underlining the serious woes facing the car industry amid plunging global sales.
Toyota Motor Corp. said no details had been decided. Kyodo News and NHK TV reported earlier in the day, without identifying sources, that Toyota's auto loan unit, Toyota Financial Services, had asked for a 200 billion yen ($2 billion) government loan.
The Japan Bank for International Cooperation declined comment on the reports, saying it does not comment on individual company matters.
The bank started to help cash-strapped Japanese businesses last year in the wake of the global financial crisis. Some companies have been struggling for cash ahead of the fiscal year end of March 31.
The Finance Ministry said Tuesday it will provide an additional $5 billion from its foreign reserves this month to the Japan Bank for International Cooperation, to make sure there is ample cash available for needy businesses. Tokyo has about $1 trillion in foreign reserves.
Finance Minister Kaoru Yosano also said the ministry stands ready to raise the money pool available for lending in yen from 800 billion yen now to 1.2 trillion yen to help companies ride out the deepening global slump.
Toyota, which makes the Camry sedan and the Prius hybrid, had been growing solidly before the U.S. financial crisis hit last year. But now it is expecting a 350 billion yen loss for the fiscal year through March, as plunging global demand and a strengthening yen batter earnings.
Toyota's projected red ink for the fiscal year through March would mark its first such annual net loss since 1950, and a sharp contrast from the record 1.72 trillion yen profit it racked up the previous year.
Toyota is still faring better than General Motors and Chrysler, which together have received $17.4 billion in emergency loans from the U.S. government, and asked for an additional $21.6 billion in aid last month.
Nissan Motor Co. has said that it is considering various types of government aid, but it declined to say Tuesday whether it was requesting for Japan Bank for International Cooperation loans. Nissan has forecast a 265 billion yen net loss for the fiscal year through March.
Toyota Motor Corp. said no details had been decided. Kyodo News and NHK TV reported earlier in the day, without identifying sources, that Toyota's auto loan unit, Toyota Financial Services, had asked for a 200 billion yen ($2 billion) government loan.
The Japan Bank for International Cooperation declined comment on the reports, saying it does not comment on individual company matters.
The bank started to help cash-strapped Japanese businesses last year in the wake of the global financial crisis. Some companies have been struggling for cash ahead of the fiscal year end of March 31.
The Finance Ministry said Tuesday it will provide an additional $5 billion from its foreign reserves this month to the Japan Bank for International Cooperation, to make sure there is ample cash available for needy businesses. Tokyo has about $1 trillion in foreign reserves.
Finance Minister Kaoru Yosano also said the ministry stands ready to raise the money pool available for lending in yen from 800 billion yen now to 1.2 trillion yen to help companies ride out the deepening global slump.
Toyota, which makes the Camry sedan and the Prius hybrid, had been growing solidly before the U.S. financial crisis hit last year. But now it is expecting a 350 billion yen loss for the fiscal year through March, as plunging global demand and a strengthening yen batter earnings.
Toyota's projected red ink for the fiscal year through March would mark its first such annual net loss since 1950, and a sharp contrast from the record 1.72 trillion yen profit it racked up the previous year.
Toyota is still faring better than General Motors and Chrysler, which together have received $17.4 billion in emergency loans from the U.S. government, and asked for an additional $21.6 billion in aid last month.
Nissan Motor Co. has said that it is considering various types of government aid, but it declined to say Tuesday whether it was requesting for Japan Bank for International Cooperation loans. Nissan has forecast a 265 billion yen net loss for the fiscal year through March.
#4
Join Date: Mar 2007
Location: Winthrop Harbor Illinois/ Presque Isle Wisconsin
Posts: 1,251
a statement from a week ago from Edmund's
they were pretty damn close on the domestics
they were pretty damn close on the domestics
Unfortunately, those month-over-month numbers are the only positive ones on the horizon. Edmunds predicts that Chrysler's sales will drop 53.1%, Ford's 47.5%, and GM's 46.2%, while Honda's will drop 32.1%, Nissan, 32.9%, and Toyota 36.3%.
#5
You can definitely tell that Honda's reputation for a great and reliable car has helped them out. At least in the prediction.
#6
yah, toyota's been introducing some real crappy cars the last
7-8yrs including corolla's, yaris, matrix, etc. so im not surprised.
they tried to become too big too fast, i think.
i read so many factory workers and supplychain loose their
jobs working for toyotah.
7-8yrs including corolla's, yaris, matrix, etc. so im not surprised.
they tried to become too big too fast, i think.
i read so many factory workers and supplychain loose their
jobs working for toyotah.
#7
Join Date: Mar 2007
Location: Winthrop Harbor Illinois/ Presque Isle Wisconsin
Posts: 1,251
Ouch Japanese numbers in
Toyota down 40%
Honda down 38%
Nissan down 37%
Hyundai up because if you lose your job (you can give your car back and not lose?????err something like that)
Toyota down 40%
Honda down 38%
Nissan down 37%
Hyundai up because if you lose your job (you can give your car back and not lose?????err something like that)
#9
Join Date: Mar 2007
Location: Winthrop Harbor Illinois/ Presque Isle Wisconsin
Posts: 1,251
It seems like most economists are saying continued deterioration thru the summer at least with a min of a million more jobs lost. 2010 some say could start an up turn.
Who knows, we are in a bad job loss spiral. (this months job loss means less goods and services bought, which leads to next months job losses and on and on)
Who knows, we are in a bad job loss spiral. (this months job loss means less goods and services bought, which leads to next months job losses and on and on)
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