Toyota loses £483 million

6th August 2009
The Japanese car maker Toyota have been hit hard by the world-wide recession and the diving car sales across the globe. In the last quarter alone (April to June) Toyota has shown a loss of almost 78billion yen, that’s about £483 million in just 3 months. The outlook does not look much brighter for the rest of the year with forecasted losses of 450billion yen.

Earlier this year Toyota closed its UK car plants for 4 months in a bid to minimize losses as car sales declined rapidly.

Toyota is one of many large carmakers who are finding themselves in hard times due to the lack of new car buyers but they seem to be preparing for a resume of consumer confidence by reviewing their car model line up.