Friday, June 10, 2011

Toyota's 2011 profit forecast to decline by 31%

The earthquake and tsunami that destroyed a part of Japan will have serious consequences in the automotive sector, lowering the profits of Toyota, from headquarters have in fact indicated that the 2011-2012 fiscal year - which ends next March 31 - could be close a decrease of 31%, ending the profits to 2.5 billion euros.

The note speaks for the House, as citing the fall in production following the earthquake of 11 March as the main cause of this collapse is that it will be barely perceptible in sales - which will fall by 2% - but that will also be important with regard to operating profits, which will mark a minus 36%.

Too bad the first quarter of 2011, with profits down 52%. With regard to the production of cars, Toyota assumed a total of 7.24 million sale of 7.39 million units against the previous year. "The damage caused by the earthquake were large and extended and will continue to affect the Japanese economy, which will slow his recovery," Toyota said in a statement.

In the second half of 2011, the company hopes to partially recover the lost starting from increased production of cars. The strengthening of the yen against the dollar, however, may make it a little 'less competitive products of the Rising Sun, whose cars are an important part.

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