Toyota Forecasts First-Ever Annual Loss

$8.6B loss is far worse than anticipated

By Jason Farago, Newser Staff

Posted May 8, 2009 5:29 AM CDT

(Newser) – Toyota forecast a 2009 loss of $8.6 billion, its first annual loss ever and one far deeper than anticipated, Reuters reports. Only last year Toyota posted record profits and climbed past GM to become the world's largest car maker, but the global downturn in the auto industry and a strong yen battered the company. Toyota lost 1.5% on the Nikkei stock exchange today.

Toyota Motor's new Lexus Launchers IS250C model is unveiled for the media in Tokyo, Japan, yesterday. (AP Photo/Shizuo Kambayashi)

Toyota is forecasting a $8.6 billion loss for 2009. (AP Photo/Katsumi Kasahara)

An unsold 2008 Avalon sedan sits at a Toyota dealership in the southeast Denver suburb of Centennial, Colo. (AP Photo/David Zalubowski, file)

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$8.6B loss is far worse than anticipated

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$8.6B loss is far worse than anticipated

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OTHER STORIES ON OUR RADAR

Japan • Toyota • automaker • auto industry • Japanese auto industry

MOST POPULAR STORIES

[ By Views ]

[ By Comments ]

More Newser Stories

GM Reclaims World's No.1 Spot

2011 disasters knock Toyota into 3rd place

Bentley Planning $140K SUV

2011 brought company first profit in years

Car Sales Jumped 14% Last Month

Chrysler, VW saw huge gains

Ford, Toyota Join Forces on Hybrid System

Partnership prompted by airport-terminal chat

Toyota to Recall 82K Hybrids in US

Highlander, Lexus hybrid SUVs have defective computer boards

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Newser By Users

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