After a year of security issues, global crisis and more, Toyota managed to made a profit of $2.2/€1.73 bn in 2009.
'When dark times come, only the strongest will stand', how many times we heard this? Well, Toyota proves that's true. Despite the global crisis, a series of recalls that brought a lack of trust on the company, even fines from U.S. government, Toyota managed to made a profit of $2.2 bn in 2009, and $1.2 bn on Q1, a breath of fresh air after 2008, when the company lost $4.73 bn.
This is "still in a tough storm, but we are starting to see some sun on the horizon" Toyota President Akio Toyoda said.
But let's see the numbers:
- Toyota recalled 10 million of its cars due security issues (More info: Toyota suspends temporally Lexus GX 640 sales to United States and Toyota again faces safety concerns and recalls 600,000 Sienna minivans )
- Net revenues (Gross revenue minus returns and other negative revenue) decreased 7.7% compared to 2009, but thanks to cost-cutting measures, Toyota is profitable.
- Vehicles sales for 2009 totaled 7.24 mn units, 330,000 less than 2008. While at United States and Europe, sales fell 114,000 and 204,000 (remember safety issues), sales were up by 292,000 units
Toyota's secret of exit is a change of his market, retreating from Europe and United States to sell at the 'secure' Asia and cost cutting measures. This, even Toyota recalling 10 mn of its cars due safety concerts about accelerator pedal and a $16,4 fine from the U.S. government, built a safe present and future for Toyota automobile company.
Toyota mid-long term plans are focus on green cars. Other companies are starting to produce hybrid models, just like Ford plant at Almussafes, València.
Toyota also, will expand to emerging markets like China and India in 2011.
Toyota again faces safety concerns and recalls 600,000 Sienna minivans
Toyota suspends temporally Lexus GX 640 sales to United States Share