SEARCH BLOG: AUTOMOBILES
Normally, I would post this under Duh-No!, since I find this is a curiosity that cannot be explained by those who constantly berate Detroit automotive manufacturers as stupid and inept. From The New York Times:
TOKYO — Less than two months after forecasting its first ever full-year operating loss, Toyota Motor said on Friday that it now expected that loss to be three times larger than originally expected as global auto sales continued to plunge.Toyota said it expected to lose 450 billion yen, or $5 billion, in the fiscal year through March 31 in its vehicle-making operations. The new forecast underscored the deteriorating situation at Toyota, which until recently seemed unstoppable as it dethroned General Motors last year as the world’s biggest producer of vehicles.
Apparently, Toyota's plan to compete in all of the U.S. vehicle segments has resulted in them producing vehicles that nobody wants... now that banks don't lend money, jobs have been disappearing, and personal fortunes have been lost. That all can be traced back to poor management of the Detroit "Big 3."
American companies are so stupid.