70 Weeks | Car Economics » Toyota http://www.70weeks.us Financial car news Mon, 07 Jun 2010 20:00:34 +0000 en hourly 1 http://wordpress.org/?v=abc Financial Results of Toyota Motor Corporation http://www.70weeks.us/2010/04/04/financial-results-of-toyota-motor-corporation/ http://www.70weeks.us/2010/04/04/financial-results-of-toyota-motor-corporation/#comments Sun, 04 Apr 2010 12:27:02 +0000 admin http://www.70weeks.us/?p=37 The Toyota Motor Corporation (TMC) today announced its third quarter financial results which ended 31 December 2009.

On a consolidated footing, the third quarter net revenues summed up to 5.3 trillion yen. This is a clear increase of 10.2% when compared to the same period during the last fiscal year. Operating income enhanced from a loss of 360.6 billion yen to 189.1 billion yen, and the company’s income before income taxes, equity in earnings of associated companies and minority interest was 224.9 billion yen. Net income augmented from a loss of 164.7 billion yen to 153.2 billion yen.

Total vehicle sales for the third quarter were 2.07 million units, which is an increase of 227 thousand units when compared to the same period last fiscal year.

Remarking on the results, TMC Senior Managing Director Takahiko Ijichi said, “As a result of customer appreciation of our strength in offering a wide range of environmentally friendly vehicles, especially gasoline-electric hybrids such as the ‘Prius’, the Lexus ‘HS250’ and the ‘Sai’, our consolidated vehicle sales for the third quarter reached 2 million 65 thousand units, up 227 thousand vehicles from the same period last year. With regard to our operating income by region, we achieved year-on-year improvement in all regions for the third quarter.”

]]> http://www.70weeks.us/2010/04/04/financial-results-of-toyota-motor-corporation/feed/ 0 How Come American Car Manufacturers Go Wrong http://www.70weeks.us/2009/09/14/how-come-american-car-manufacturers-go-wrong/ http://www.70weeks.us/2009/09/14/how-come-american-car-manufacturers-go-wrong/#comments Mon, 14 Sep 2009 07:27:14 +0000 admin http://www.70weeks.us/?p=23 Just when people feel that the Big 3 (Toyota, Ford and GM) have learned their lesson, they go and replicate the same things which had got them in trouble previously. One feels that after 2 decades of bad conclusions and other key bailout from the government the industry would not repeat the same mistake, but that is not the case. But Ford had told the government to batter salt over the conditions of a bailout.
On the other hand, all 3 just made the most terrible verdict of all time. They thought that ‘the economy is recovered’ and that the unreal requirement for cars, by cash for clunkers, is in some manner everlasting. But actually there is very little demand left for new cars as all the demand for cars was pressed forward by the very luxurious government incentive. Regrettably, the largest receivers of the whole cash for clunkers deal were the Japanese car makers and not the Big 3 as was imagined.
Toyota has recognized and so has recently decreased their production by 10%. But sad that GM and Ford lately declared the add-on of more shifts, rehired workers and hiked output by 10%.

Source: Seeking Alpha

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