February 7, 2009

Toyota hit harder than first thought

Per the Japan Times, Toyota Motor Corp. announced Friday it expects to sustain a group operating loss of ¥350 billion ($3.9 billion) in 2008, three times more than initially projected. It marks the company's biggest loss in a year since 1937.

Only one person in Japan has tweeted about this so far.

@kei_shimada (Shibuya, Japan): on Performance: Toyota just announced they're positively in the red this FY, but McDJ, Suntory, Nintendo are forecasting all time high.

There was a larger response to the news internationally.

@michaelq (Mildura, Australia): @wolfcat I dont get how Toyota and GM can sell almost 9 mill cars each and lose money. Side note - KIA and Hyundai both making profits.

@JonathanHutter (Portland, Ore.): Toyota's got a brand that can withstand net loss. Because they've always made good cars. Can't say that about all the automakers. (0 left)

@dyphan (Hoffman Estates, Ill.): It's so bad, even Toyota is losing money. First time since 1950. http://tinyurl.com/cd4y5h

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