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Toyota, Uncategorized

Toyota sees red

The largest carmaker in the world sees red as it posted a $4.4 billion net annual loss. This is the carmaker’s worst annual loss.  But according to the company, Toyota will be in deeper financial problem this year. Representatives of the company said that the financial issues of the company can be linked to the slump in global demand and the presence of the strong yen. They said that a strong yen makes exports from Japan more expensive. The company sees that this economic situation will stay on for a while, and  Katsuki Watanabe, Toyota’s President said that “It will take more time before the financial markets in the US and Europe normalize and the global economy recovers.

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