Toyota reports first loss in 71 years

• Source: Ce.cn
• [16:14 May 14 2009]
• Comments

Toyota on Friday reported a consolidated operating loss of 461.01 billion yen (US$4.66 billion) in fiscal 2008 ending March 31, the first operating loss in 71 years.

As car sales are still on the decrease amid the global financial crisis, the largest Japanese automaker projected an operating loss of 850 billion yen (US$8.59 billion) in fiscal 2009.

Meanwhile, Toyota also registered a group net loss of 436.94 billion yen (4.41 billion dollars) in fiscal 2008, compared with a record-high profit of 1.72 trillion yen (US$17.37 billion) for the previous fiscal year.

For fiscal 2009, Toyota, which overtook General Motors as the world's largest automaker in 2008, predicted a group net loss of 550 billion yen (US$5.55 billion) on sales of 16.5 trillion yen (US$166.67 billion).
 

(Xinhua)