Jump to content
  • Greetings Guest!

    CheersandGears.com was founded in 2001 and is one of the oldest continuously operating automotive forums out there.  Come see why we have users who visit nearly every day for the past 16+ years. Signup is fast and free, or you can opt for a premium subscription to view the site ad-free.

Sign in to follow this  

Toyota shrinks Europe operating loss

Recommended Posts

Toyota shrinks Europe operating loss

Automaker predicts its sales will be flat in the region this fiscal year

Luca Ciferri

Automotive News Europe -- May 11, 2010 14:00 CET

Aggressive cost cutting helped Toyota Motor Europe drastically lower its operating loss despite a sharp unit-sales decline in the year ending in March.

Toyota Europe's operating loss shrank to 33 billion yen ($357 million) from a loss of 143.3 billion yen in its 2009 fiscal year. During that same period, the Toyota Motor Corp. unit sold 858,000 vehicles in Europe, a decline of 19.2 percent from the 1.06 million units sold in its previous fiscal year.

Toyota's Europe sales took a hit following its late January announcement that it would recall more than 1.7 million cars here, including its top-selling Auris, Avensis, Aygo, Yaris and Prius model lines.

Europe was the region where Toyota lost the most sales, 204,000, in its last fiscal year. North America was second with a volume drop of 114,000 units.

Prior to the crisis, Toyota Europe was a money-making machine. It reported 141.5 billion yen operating profit in its 2008 fiscal year.

A Toyota Europe spokeswoman declined to predict whether the unit would break even financially in the year ending in March 2011. The company does not give financial forecasts by region.

For the current fiscal year the company forecast flat sales – 860,000 units – in Europe including Russia, Ukraine and Turkey.

Read more: http://www.autonews.com/apps/pbcs.dll/article?AID=/20100511/ANE/100519981/1193#ixzz0ncyO0mRI

Share this post

Link to post
Share on other sites

Your content will need to be approved by a moderator

You are commenting as a guest. If you have an account, please sign in.
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Sign in to follow this  

About us

CheersandGears.com - Founded 2001

We ♥ Cars

Get in touch

Follow us

Recent tweets



Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.