Detroit Is Tanking, But Toyota's in Trouble, Too - Corporate News Article - toyota, cars, recession

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Detroit Is Tanking, But Toyota's in Trouble, Too

Article Submitted by: ktexas
Corporate News

Tags: Toyota, Cars, Recession, Auto industry.

Critics like to say Detroit's getting what it deserves because the Japanese build better cars, but guess what -- Toyota isn't looking so great these days, either.

Submitted: Nov 12, 2008 Views: 170 Comments: 1 Likes: 1

View Article: http://blog.wired.com/cars/2008/11/gm-and-ford-may.html

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Comments Received:

AutoMile
(Unregistered)

Don't buy it.

"Toyota's stock nosedived 17 percent last week -- its greatest decline in 18 years -- after the company announced it will see an operating profit of just $6.9 billion, a 73.6 percent decline over last year. "

Even in this dismal economy they expect to make $6.9 billion. GM alone has lost over $20 billion dollars in the last three years.

Posted: Nov 12, 2008

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