Originally posted by: marincounty
Originally posted by: bctbct
Originally posted by: marincounty
Originally posted by: bctbct
Originally posted by: desy
Wow
1 million cars, SINCE THEY STARTED
So they've probably made what 80 million cars in the 10 yrs the Prius has been in production so 1.25% of their total manufacturing
What were they doing over 98% the time otherwise?
They started making gas guzzling SUV/Trucks about the same time
Shame on them for making cars that Americans wanted to buy. And Detroit has sold how many hybrids?
Detroit makes several hybrids, there seems to be a shortage of buyers. Ford was prepared to make 45k Escapes in 2006 but only sold 22k.
If you want to criticize strategy, Toyota is going to take in in the shorts on their gas guzzlers, they entered the market too late, capital costs are going to kill their bottom line. Hows that for a business model.
Unlike the big three, Toyota is still profitable. And if they abandon the gas guzzlers, they still make the corolla, prius, camry hybrid, yaris, etc..
If Detroit abandons the gaz guzzler they make what?
I'm so glad you are concerned about their business model, since you are so smart maybe you can help the big three achieve profitability.
Better sell that Toyota stock, they have no future.
Text
Toyota: Biggest Profit Drop in a Decade
You know things are bad when seemingly invincible Toyota is struggling, and it is.
Calling the current economic environment "unprecedented," Toyota reported Thursday its quarterly profit plunged 69 percent, mainly due to slumping vehicle sales in the U.S. and Europe, where Toyota lost money, as well as depreciation of the yen versus the U.S. dollar
In the U.S., where Toyota curtailed production at two plants to take down inventories of its Tundra pickup and Sequoia SUV, Toyota lost money -- about $350 million -- in the first half of its fiscal year. Toyota also lost money in Europe
In response to the deeper-than-expected profit decline, Toyota immediately established an "emergency profit improvement committee" headed by Watanabe to look at ways to cut costs and maximize profits.
Toyota will cut costs across the board. Included will be slicing in half the number of contract workers in Japan from the current 6,000 to 3,000 by March, reviewing capital expenditures, reconsider the timing and scale of projects and review capital expenditures.
At the same time, Toyota aims to increase vehicle sales and profits by launching new models, such as the iQ in Europe and new hybrid vehicles.
In the U.S., despite the struggles, Toyota has gained market share in the U.S., where its share of industry sales reached a record high of 17 percent for the first half of its fiscal year due to strong sales of the Yaris and Corolla.
The automaker plans to "stimulate market demand with special models and revised pricing strategies by region and by models," company executives said in a conference call Thursday with financial analysts and media.
In that call, Takahiko Ijichi, senior managing director of Toyota Motor Corp., said the total pot of incentive spending in North America likely won't increase but will be redistributed.
Instead of plunking most of the incentive funds on big vehicles like the Toyota Tundra and Sequoia as the automaker has most of this year, it will shift that spending to other models now that once-bloated inventories of trucks and SUVs are more in line with demand.