Toyota loss could be as much as $1.7 BILLION dollars
Toyota Motor Corp stock decline over the past 12 months. Source www.BigCharts.com
According to Bloomberg news, Toyota will soon announce a possible dividend cut or profit loss. Following the announcement by Toyota Motor Corp. President Katsuaki Watanabe, stocks dropped (just 0.2 percent) but still remained strong.
Bloomberg sources the Nikkei English News, which doesn’t give a source, but states that Toyota may actually post an operating loss of $1.7 Billion. It would be the first loss in the company’s 71 year history.
Toyota’s US sales fell 34 percent last month.
The news also brought about some market turbulence in German where both Daimler and BMW posted three percent losses for the day.
Meanwhile, Lamborghini has announced that even the ultra-rich are not free from the economic woes. While they do expect to post another record sales year, production will be slowed as the company will add an additional eight days to its Christmas brake.
Exotic car manufacturers, it should be noted, are in a unique position during such dire financial times as they rely on a pre-ordering process with lengthy wait times for customers. This means that sales of 2009 vehicles more accurately represent the 2007 marketplace as orders would have to have been placed much earlier. The advantage for companies like Lamborghini or Ferrari is that this system gives them a significant amount of time to react to an economic downturn.
Official Toyota Sales figures after the jump:
December 2, 2008 – Torrance, CA – Toyota Motor Sales (TMS), U.S.A., Inc., today reported November sales of 130,307 vehicles, a decrease of 33.9 percent from last November, on a daily selling rate basis.
The Toyota Division posted November sales of 114,084 units, a decrease of 33.8 percent from last November. The Lexus Division reported November sales of 16,223 units, a decrease of 34.7 percent from the year-ago month.
Toyota Division passenger cars recorded November sales of 68,013 units, down 31.1 percent from the same period last year. Passenger car sales were led by Camry and Camry Hybrid, which posted combined sales of 25,224 units. Camry Hybrid reported November sales of 2,174 units. Corolla recorded sales of 21,807 units. Yaris reported sales of 4,545 units for the month. The Prius mid-size gas-electric hybrid posted November sales of 8,660 units.
Toyota Division light trucks posted November sales of 46,071 units, down 37.4 percent from November 2007. Light truck sales were led by the RAV4 compact SUV with November sales of 9,260 units. The Tacoma mid-size pickup reported sales of 8,648 units for the month. Highlander and Highlander Hybrid posted combined sales of 7,887 units. The Highlander Hybrid gas-electric mid-size SUV reported sales of 907 units. Sequoia posted sales of 1,873 units for the month, up 51.9 percent over the same period last year.
Scion posted November sales of 5,275 units. The xB urban utility vehicle led the way with sales of 2,161 units. The tC sports coupe recorded sales of 1,728 units. The xD reported sales of 1,386 units for the month.
Lexus passenger cars reported November sales of 8,941 units, a decrease of 40.0 percent from November 2007. Passenger car sales were led by the ES entry luxury sedan with November sales of 4,116 units. The IS entry luxury sport sedan reported combined sales of 2,749 units. The LS flagship luxury sedan reported combined sales of 1,272 units. The GS luxury sport sedan reported combined November sales of 721 units.
Lexus Division light trucks recorded November sales of 7,282 units, down 26.9 percent from the year-ago month. Lexus sales were led by the RX luxury utility vehicle, which posted combined November sales of 5,850 units. The RX 400h hybrid luxury utility vehicle reported sales of 624 units for the month.
TMS calendar-year-to-date hybrid sales totaled 229,204 units. TMS posted November sales of 12,444 hybrid vehicles. Toyota Division recorded sales of 11,741 hybrids for the month. Lexus Division reported November sales of 703 hybrids.