2011 Suzuki Thunder 125
2011 Honda CR-Z
Toyota Motor Corp. said Friday it expects to post an even greater net loss for fiscal 2009 — its first full-year loss since 1950.
Blaming world-market conditions, Toyota said Friday it expects to lose 450 billion yen or $5 billion in the current fiscal year — ending in March.
Revenue for the third quarter declined slightly more than 28 percent. The company saw the most decline in vehicle sales in North America and Europe.
Toyota’s North American sales declined by 235,000 vehicles, and it saw 73,000 fewer vehicle sales in Europe.
Toyota has been cutting production and revising its sales figures downward during the past several months, as the recession and credit crunch drove customers away.
Last month, the company said it will scale back automobile production at seven of its U.S. plants in an attempt to cut its inventory by nearly half. It is also halting production for 11 days in February and March at its 12 Japanese plants.
Toyota’s U.S. sales, distribution and marketing unit is based in Torrance.
Better news this week from Hyundai, Kia
The news comes as Kia Motor America Inc. of Irvine and Fountain Valley-based Hyundai Motor America Inc. they saw their auto sales grow in January.
Hyundai said this week it saw a 14 percent increase in auto sales from the year-earlier period. Kia Motor America said it sold 22,096 vehicles in January.
Hyundai served as the presenting sponsor of NBC’s Super Bowl Pregame show on Sunday while the big-three auotmakers, General Motors Corp., Chrysler and Ford Motor Co. sat out of the advertising pool. The big three are taking high-dollar government bailouts, and many speculators say the automakers would have drawn criticism if spending millions on ads to air during the Super Bowl.
Toyota expects $5 billion loss
