Bloomberg the Company

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Follow Us

Industry Products

Businessweek Archives

Toyota: Oh, What A Rotten Feeling


In Business This Week

TOYOTA: OH, WHAT A ROTTEN FEELING

Toyota Motor is making the wrong kind of headlines. First, Consumer Reports recommended that owners of 1987 to 1991 Toyota Camrys keep tools in the car to break a window if the power door locks jam. The company's dealers now will temporarily convert the power locks to manuals for free while the carmaker figures out what the problem is.

Then, on Aug. 26, Toyota announced that for the second year running, profits declined from the previous year. Its consolidated pretax profit fell 40%, to $34 million, on revenues of $8.1 billion, a 3.1% gain. The modest increase in sales came strictly from higher prices: Unit sales actually dropped slightly, to 4.5 million vehicles worldwide. The company also said it didn't expect an earnings improvement next year.EDITED BY HARRIS COLLINGWOOD


The Aging of Abercrombie & Fitch
LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus