Toyota Posts $2.2 Billion Annual Profit Despite Massive Recalls
Toyota has posted a $2.2 billion (209.4 billion yen) profit for their fiscal year which ended on March 31st. This amount is a big improvement over the previous year’s 437 billion yen loss. Despite the massive recalls and media attacks against Toyota, they have managed to stay well above water.
Toyota still expects next year to be an even greater improvement. Toyota is still under fire as government agencies continue investigations on the unintended acceleration issue and timeliness of the corrective actions.
Toyota had to pay up a $16.4 million fine levied by the U.S. government recently. Toyota will continue to be the center of attention but many analysts predict they will be just fine out of this whole ordeal just as they have recently reported their $2.2 billion profit.
[source: NYTimes]
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virginia hogan on Sat, 15th May 2010 6:47 am
I whole-heartedly agree that Toyoto will survive.Wish I had a product that reliable. Perhaps everyone should remain positive and stand on previous reputation. Afterall, that’s what we have to base decisions on.