Ride through it

8 May 2009 By John Foley Follow @johnsfoley

The Japanese carmaker burned up $6.9bn in the fourth quarter, hit by a strong yen and the US tumble. This year is set to be worse: a 20% sales drop and an $8.5bn loss. But a tank full of cash and good technology should get Toyota across the chasm to thrive on the other side.

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Toyota Motor Corp, the Japanese automaker, reported a Y682bn ($6.8bn) operating loss in the fourth quarter ending March 2009, as revenues for the threemonth period halved compared to the previous year. That left the group with a fullyear operating loss of $4.6bn its first in seventy years.

Toyota said it expected an even bigger loss for 2010 of $8.5bn, with sales likely to fall by 20%. It cited the dual effects of falling volumes and a strong yen, which reduces Japanese automotive firms' competitiveness versus American and European counterparts.

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