Toyota projects a loss in 2009
U.S. car makers are not the only ones facing financial problems. Toyota announced today that they are looking at projected losses in 2009. This would make the first time a loss occurred since 1938. This again signals to me that the Automakers problems are not JUST poor quality and unwanted designs. The credit crisis is a huge factor and one that a loan will not help.CLICK HERE to read the story from the WSJ.
Good Luck and Good Currency Trading.
Labels: Markets
posted by Banker at
Tuesday, December 23, 2008
2 Comments:
I think you were right when you said sometime back that people are rushing to judgment about US automakers. I agree that this is primarily due to the credit crisis. But a *first-time loss* and *hanging on by a thread* are to me two different states of mind. As you say, it may not all be about a lack of quality, utility and design for American automakers. But you also agree that the perceived paucity of each in the minds of most consumers is a significant risk multiplier in times of systemic financial stress -- enough to bring each of the big three to the brink of failure. Again. Somehow I don't think the folks in Toyota City are taking it as hard, comparatively speaking, and however attached they are to their honor code. I think they'll weather the storm just fine.
Hey LT, Happy Holiday's
I agree with you the other automakers will fair much better, my point is that there are a number of things which have brought this situation about, lack of quality, poor fuel effiecent vehicles are the major contributor's. More important to me is making sure that the money is not wasted just bridging the gap until the economy picks up and the automakers (and labor) going back to buisness as usual. I am not big into all these bailouts, I just hope that the bailouts are used for advancement.
Banker
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