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Auto industry plunging further

 Yes, we are living THOSE times. Less than one our ago Toyota announced that it will make in the last quarter an operating loss of 150 billion yen ($1,65 billion loss). This would mean that its total 2008 net profit forecast would go down by 91% to 50 billion yen ($556 million) from 550 billion yen.
Toyota is by no means outside the normal trend in the auto industry.Read More »Auto industry plunging further