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TUESDAY, NOVEMBER 24, 2009
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Toyota Forecasts First-Ever Annual Loss

$8.6B loss is far worse than anticipated

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(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.
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.
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.
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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