Toyota Motor Corp., the world's largest producer of cars, reduced its forecast for annual losses due to the fact that the measures taken by the governments of countries - the largest markets for the company - to stimulate demand, have begun to yield results, passes Bloomberg.
Toyota forecast that for the year which ended 31 March 2010, its operating losses amounted to 750 billion yen ($ 7.7 billion) and net loss - 450 billion yen. Three months ago, Toyota had expected that the annual losses reached 850 and 550 billion yen, respectively. Avtokontsern intends to sell 6.6 million vehicles, which is 100 thousand more than previously thought.
The company expects to increase sales in the domestic market for the first time in the last 5 years due to the fact that the Government had launched a major program to stimulate demand for energy-efficient production automobile. Toyota has received orders for 245 thousand cars model Prius hybrid, as of July 24.
In I quarter 2009-2010 financial year ending 30 June, net losses Toyota Motor Corp. amounted to 87.17 billion yen ($ 918 million). A year earlier, automakers showed a net profit of 373.5 billion yen. Toyota Senior Managing Director Takahiko Idziti, commenting on the quarterly results, said that avtokontsernu achieved some positive results due to fixed costs and their reduction. However, our results have seriously affected the decline of sales and the strengthening of the yen, - he emphasized.
The cost of crude oil declines on Tuesday after falling stock markets
Inflation in Russia in July 2009 was 0.6%, from the beginning of the year - 8.1%
Kievvodokanal scares that turn off the water
By the end of the session, oil quotes have returned to levels of local maxima, which bulls bring the market into positive territory
Europe: negative reporting led to a correction in the markets
Today's sales in Russia are part of the technical correction after Monday rally
Indicator RTS 2-up trades rose by 0.39% and closed the session at around 921.47, paragraph
United States: unassured growth against the backdrop of conflicting data
Kiev - the only city that remains a negative rating