GM Inside News Forum banner
1 - 20 of 34 Posts

·
Registered
Joined
·
4,225 Posts
Discussion Starter · #1 ·
Toyota fighting US woes to meet global sales goals

TOKYO (AP) -- Shares of Toyota Motor Corp. plunged Wednesday following a major business daily report that Toyota may have trouble meeting global vehicle sales targets.

But Toyota declined to comment on the report, while Senior Managing Director Yoichiro Ichimaru said his company was sticking with its targets for now, including this year's global vehicle sales goals.

He acknowledged, however, that the numbers were becoming increasingly tough to meet because of a drop in U.S. sales.

The Nikkei reported in its Wednesday's editions Toyota's operating profit for the fiscal year ending March 2009 may fall 40 percent. The report also said Toyota may not meet its sales targets for 2008, as growth in emerging markets aren't likely to be enough to offset declines in the U.S. and Europe.

"When we look at our numbers, we see things are very critical," Ichimaru said. "U.S. and Europe sales are getting seriously hit because of the economic conditions."

Speculation has been growing Toyota may lower its global vehicle sales target of 9.5 million vehicles at a time when the Japanese manufacturer has been going neck-and-neck in global vehicle sales against General Motors Corp., the world's top automaker.

Toyota stock slid 11.6 percent to close at 3,280 yen ($33) amid a more than 9 percent plunge in the benchmark Nikkei 225 index for the Tokyo stock market -- the biggest slide in 21 years -- as fears intensified about a global financial crisis.

Last week, Toyota offered an unprecedented zero-percent financing on models in the U.S. to woo buyers after Japan's top automaker posted a 32 percent drop in September U.S. vehicle sales.

http://biz.yahoo.com/ap/081008/as_japan_toyota.html
 

·
Premium Member
Joined
·
8,886 Posts
I wonder if people will start to equate "import" with "expensive" and buy more local goods. Protectionism is a bad thing, but folks might opt for domestic goods to keep their fellow citizens employed and that may well bode ill for some companies that depend greatly on selling to the US -- like many of the imports.
 

·
Premium Member
Joined
·
34,363 Posts
Oh yes and Japan sure is in the west!
Japan is consindered part of the west. Their geo political leanings are in lock step with us. We shot, bombed , sank their ships, and nuked them to see things our way. Though they were begging for it.
 

·
Premium Member
Joined
·
2,461 Posts
I am sorry to say I left my small violin at home, I never have it when I need it.
 

·
Registered
Joined
·
781 Posts
And to rub salt in the wound - VW has overtaken Toyota as the world's most valuable auto company.

Part of the article: VW is now worth more than Daimler, BMW, General Motors, Ford, Fiat, PSA Peugeot Citroën, Renault, Mitsubishi and Hyundai combined. VW has a market capitalisation of €94.5bn compared with Toyota’s Y12,792bn (€92bn).
 

·
Registered
Joined
·
15,633 Posts
Personally, I fully expect calender year 2009 to resemble 1980.

So roughly, auto sales will total out in the 6 to 10 million range.

Everybody will end up hurt.

Strangely enough, in terms of were they could have gone in a more 'normal' economy, Toyota's theoretical but realistic 'loss' will be the largest.

In absolute terms it will depend how you want to look at it.

For sure, their relative positioning is going to be dropping large as well compared to at least half the other OEM's out there. That doesn't mean necessarily in absolute, 'ranking' terms.

And you know what ?

About 50% of this is completely beyond their control - doesn't reflect poor management in the least.

A big chunk of the other 50% will be highly debatable as well.
 

·
Registered
Joined
·
3,438 Posts
The only way anyone comes even close to their goals this year is with massive fleet sales.
 

·
Registered
Joined
·
4,660 Posts
Good points in this thread so far. Except the bickering about Japan being east or west. lol. Clearly geographically, we consider it "east". But politically, culturally, and socially, Japan is very western.
 

·
Registered
Joined
·
8,945 Posts
Good points in this thread so far. Except the bickering about Japan being east or west. lol. Clearly geographically, we consider it "east". But politically, culturally, and socially, Japan is very western.
No... culturally, it's completely Oriental.

I think the point you and others are trying to make is that it has strong economical/geopolitical ties to the "West". That would be true.
 

·
Registered
Joined
·
698 Posts
I'm crying in my beer for them...

Not.
 

·
Registered
Joined
·
1,787 Posts
every company is doing bad haven't you noticed?????????!!!!!!!!!
 

·
Registered
Joined
·
15,633 Posts
And to rub salt in the wound - VW has overtaken Toyota as the world's most valuable auto company.

Part of the article: VW is now worth more than Daimler, BMW, General Motors, Ford, Fiat, PSA Peugeot Citroën, Renault, Mitsubishi and Hyundai combined. VW has a market capitalisation of €94.5bn compared with Toyota’s Y12,792bn (€92bn).
Also nicely missing from this article is the decline and then full blown meltdown Toyota and especially Lexus were experiencing in Europe - which covers a period of years - before the latest stuff hit the fan.

If we end up cratering the worldwide economy as seems likely,, the Japanese just might end up pulling out of most of 'old' Europe.

Three brands that are now on the possible endangered species list are Infiniti, Acura, and Lexus.
 

·
Registered
Joined
·
8,861 Posts
This news is not a surprise. I do wish GM would have Toyota's profit "problem:" falling profits that I imagine will still help Toyota maintain the title of most profitable automaker for 2008.

And to rub salt in the wound - VW has overtaken Toyota as the world's most valuable auto company.

Part of the article: VW is now worth more than Daimler, BMW, General Motors, Ford, Fiat, PSA Peugeot Citroën, Renault, Mitsubishi and Hyundai combined. VW has a market capitalisation of €94.5bn compared with Toyota’s Y12,792bn (€92bn).
Funny, looking at share price (6:05 pm EST 10/08/08), I have Toyota edging VW by about $1 billion. Nonetheless, I would definitely have more faith in Toyota than VW as a long-term investment.

And I'm aware that VW has an intent to be the largest automaker by sales by 2018, but I've heard that from other automakers (and VW) before. I'm not so sure how they're planning to get there.
 

·
Registered
Joined
·
2,791 Posts
Protectionism is a bad thing? Really?

I wonder if people will start to equate "import" with "expensive" and buy more local goods. Protectionism is a bad thing, but folks might opt for domestic goods to keep their fellow citizens employed and that may well bode ill for some companies that depend greatly on selling to the US -- like many of the imports.
 

·
Premium Member
Joined
·
35,886 Posts
This news is not a surprise. I do wish GM would have Toyota's profit "problem:" falling profits that I imagine will still help Toyota maintain the title of most profitable automaker for 2008.



Funny, looking at share price (6:05 pm EST 10/08/08), I have Toyota edging VW by about $1 billion. Nonetheless, I would definitely have more faith in Toyota than VW as a long-term investment.

And I'm aware that VW has an intent to be the largest automaker by sales by 2018, but I've heard that from other automakers (and VW) before. I'm not so sure how they're planning to get there.
IMO the only way VW will get there is if they buy out enough other companies to Make It So, Number One!

All our auto stocks have plummeted, GM, Fo, Chryco, and Honduh. Even Exxon is down.
Even Wal Marks is down, but not from a few years ago.
 
1 - 20 of 34 Posts
Top