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
Toyota Motor's new Lexus Launchers IS250C model is unveiled for the media in Tokyo, Japan, yesterday.   (AP Photo/Shizuo Kambayashi)
camera-icon View 2 more images

(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.
(Read more Toyota stories.)