biz.yahoo.com — TOKYO (AP) -- Toyota sank into the red for the October-December quarter and acknowledged Friday it was heading for its first annual net loss since 1950 because of plunging global automobile sales and the strong yen.
Feb 6, 2009 View in Crawl 4
bloodwineFeb 7, 2009
I think the automotive market will be in for a hurt for years to come.First, easy credit won't be back for quite some time. I'm thinking at least a decade (long enough for most people to only vaguely recall the dangers of handing out loans to everyone). This is going to put a dent in both auto sales and home sales for quite some time.Also, as people lose their jobs or tighten their belts to stay afloat, they are going to try and maximize their purchases. If you think about it, it was a bit silly seeing people switch out cars every year or two. That was a bit excessive and was never the norm before. We'll go back to long-term auto ownership. Drive that puppy until you are using duck tape to keep the window up and a clothes hanger to keep your transmission from dropping out.Toyota will survive, but they will be a victim of their success. Their vehicles are superb and long-lasting.
stoneyFeb 7, 2009
I bet it has something to do with the tens of thousands of Toyotas sitting at the Long Beach Port....?
Closed AccountFeb 7, 2009
Up until 2007, that's what the consumer wanted.
Closed AccountFeb 7, 2009
Interesting, how can that be with the europeans and canadians pissed about his 'buy american' clause in the stimulus bill and India telling him he's barking up the wrong tree over kashmir.
Closed AccountFeb 7, 2009
No pity on any of these big businesses. They did not do enough to stop Bush with that war nonsense over a terrorist crime. Remember Germany ruining itself over the Archduke's assassination in WW1? When you don't stop halfwit leaders much of the world will suffer for 2-3 decades.