Tuesday, May 12, 2009

Toyota Shares Dropped by 4% at Nikkei Share Market

Toyota Motor Corporation has not seen any positive sign yet in their bleak looking business. The company experienced $8.6 billion annual loss in the last fiscal year. The amount of loss was even bigger than what had been expected. Toyota’s sales fell in US as well as domestic car markets significantly last year because of global economic recession. Toyota’s share fell by 4% at Nikkei share market just after the news of Toyota’s annual loss came out in the media. However, the condition was aggravated due to surging Japanese yen against foreign currencies.

Toyota is world’s largest car marker and it is now expecting a fall of 1 million vehicles in his annual sales this year. This is not a good sing for the company which is currently trying to survive by launching hybrid cars to the big car markets like America. Now, let us see if Toyota can retain some of its lost business by selling fuel-efficient hybrid cars.

Related article:

Daily Times