Jump to content

MyCarForum Logo
Search
Magnifying glass

SEARCH

0

Toyota Q4 profits shaken by Earthquake

By SYF77 on 24 May 2011

Attached Image

Toyota has announced profits of US$314 million for the first three months of 2011, down 77% as compared to the same period a year ago. Fortunately, Toyota still managed to remain profitable in spite of the March 11 earthquake that caused most Japanese plants to shut down. Toyota's sales were predictably low for the quarter, and revenue was hurt as a result.

Toyota's profits for its fiscal fourth quarter may be disappointing, but the automaker is likely to release even less promising figures for the first 6 months of 2011. This is because Toyota is still struggling through supply issues, with many plants running at only 50% capacity, if they're running at all. Further, Toyota says that dealers in the U.S. and China are likely to see less products in the coming months, which could lead to much lower revenue. On a brighter note, Toyota now says that production should ramp up to 70% of capacity by June, up from previous estimates of July or August. That should help get Toyota back on its feet faster, which is good for employment as well.

For the whole fiscal year, Toyota earned US$5.9 billion or nearly three times the profit of fiscal year 2009. Revenue was also up by 0.2% to $237 billion on sales of 7.3 million vehicles, up by 71,000 units as compared to 2009. The outlook for Toyota doesn’t look so bleak after all. The tsunami is only a temporary setback for Toyota but in my opinion, the rise of the Korean tide may prove to be much more damaging.

sales report, other news and 5 more...

Viewed: 390 times

Related Blog Posts
SYF77
Written by SYF77
I have been a car fanatic since 1989, when my father was changing our family car then to a Toyota Corolla 1.6 GL fitted with a Twin Cam 16 valve engine that was carburetor-fed, a big deal back in those days. The automobile technology and industry fascinates me and I hope to broadcast these interesting developments to everyone out there through this blog.



 
Car Makes

Please select a car make

Facebook Likes
   Featured Blog Post
Photo
The guide, while not mandatory, comes amid rising car complaints, mainly about defects. It is dev...
POPULAR BLOG POSTS
Photo
Subaru has given us a teaser photo of an STI wing affixed to the rear boot of a BRZ. Is Subaru fi...
Photo
The new model will be called the BMW i8 Roadster and we’ll see it sans the crocodile skin camoufl...
Photo
Ferrari profit skyrocketed 36% during the first quarter of 2017. Demand substantially increased f...
Photo
This is the new Beast, the Cadillac One, and codenamed by the Secret Service as Stagecoach. This...
Photo
Jethro Bovingdon from Drive Tribe reviews the latest 911 GT3 and unsurprisingly, the car passes t...
   Lifestyle Articles