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Toyota Execs Root For GM Sales Recovery

2009 Toyota Camry

2009 Toyota Camry

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Speaking of GM's horrendous sales numbers, Toyota senior managing director Yasuhiko Ichihashi said: "We don't see it as an opportunity." He stated very clearly that he and his company want GM to return to health and profitability as soon as possible.

Toyota shares parts suppliers with General Motors and if those suppliers are under financial strain, the effect is quickly felt by the Japanese giant that has multiple U.S. manufacturing facilities. Detroit news added that a collapse of GM would "likely depress consumer sentiment," presumably something Toyota also considered.

How bad is Toyota feeling the pain of auto market woes right now? Well, the company is expecting its first annual loss since 1950 for the fiscal year that concluded in March. We'd say the pain is quite acute. A strong yen has only compounded their own troubles and sales losses.

Ichihashi is cautiously optimistic that the precipitous sales drop has reached the bottom, as U.S. auto sales in March (857,735 vehicles) were up 25 percent from the month prior. Still, March's figure represents a 37 percent drop in sales from that month one year ago.

[source: Detroit News]

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  1. "month by month not yr to yr"

    Under the current environment the numbers that should be considered are the month to month figures. It is a given that compared to last year most moths will be down. But to get a feel of whetehr the market is recovering or not we need took at the mont to month figures and a rise in that is a much better indicator that things may be recovering ratehr than looking at the corresponding month last year. But the only way to see if that is a real increase or one is to compare it to the next months figure.
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