Toyota posts $1.81B loss for 3rd Fiscal Quarter

[MikeMike]

http://biz.yahoo.com/ap/090206...apan_earns_toyota.html

toyota is soooo not out of this, and i dont see any car company surviving if this goes on for a full year...

 

[Moonbeam]

Yup, in a year I predict there will no longer be any cars.

 

[sandorski]

Buy Horse Futures! :laugh:

 

[Pocatello]

Too many car companies making cars and the yen has risen compare to the dollar.

 

[Thump553]

Toyota has also been downgraded by S&P from AAA to AA+ with a negative outlook. While AA+ is still pretty good, I'm glad I don't own any Toyota stock.

 

[StageLeft]

For a company of their size, compared to their competitors' losses, they'll be ok. Toyota is still a license to print money, it's just that the printing press is in the shop at the moment.

 

[Deadtrees]

Amazing how Hyundai is doing darn good when all the others are falling apart.

 

[Thump553]

Originally posted by: Deadtrees
Amazing how Hyundai is doing darn good when all the others are falling apart.

They have their 10 year warranty, the recent "layoff insurance" gimmick and their prices are amazingly cheap-I just got an email from the local dealer-2008 Elantra approx. 13k, Santa Fe (2009 if I remember right) around 18k. Their sales might be up slightly but I bet they are losing a boatload of money.

 

[Strk]

Originally posted by: Thump553

Originally posted by: Deadtrees
Amazing how Hyundai is doing darn good when all the others are falling apart.

They have their 10 year warranty, the recent "layoff insurance" gimmick and their prices are amazingly cheap-I just got an email from the local dealer-2008 Elantra approx. 13k, Santa Fe (2009 if I remember right) around 18k. Their sales might be up slightly but I bet they are losing a boatload of money.

Not necessarily

I doubt their margin is as high as Toyota's is (I think they average around $1.5-2k per car), but Toyota has a lot of factors that caused this. Toyota's suffering from their rapid expansion.

 

[ponyo]

Originally posted by: Thump553

Originally posted by: Deadtrees
Amazing how Hyundai is doing darn good when all the others are falling apart.

They have their 10 year warranty, the recent "layoff insurance" gimmick and their prices are amazingly cheap-I just got an email from the local dealer-2008 Elantra approx. 13k, Santa Fe (2009 if I remember right) around 18k. Their sales might be up slightly but I bet they are losing a boatload of money.

Hyundai is getting benefit from the stronger dollar. US dollar is up ~45% against the Korean Won compared to this time last year. So when they take the dollars home and exchange it to their Won, they get a nice bonus.

Toyota is getting hurt by the auto slowdown and the stronger Yen. Japanese Yen is up ~15% against the US dollar and much more against other world currencies compared to this time last year. When they bring the dollar home along with other world currencies to convert into their Yen, they're getting killed.

 

[miketheidiot]

does Hyundai still get subsidized by the korean government?

 

[Chunkee]

still probably wont see them drop prices or give good incentives.. jC

 

[MikeMike]

Originally posted by: Chunkee
still probably wont see them drop prices or give good incentives.. jC

uh, toyota is setting personal records for amount of cash on the hood.... the americans lead, followed by european manufacturers at their heels.