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
The US auto industry is long troubled, especially by the strong Japanese competition. Yet it makes efforts to resist to the increases in the oil price and come back with more fuel efficient vehicles.
Chrysler LLC on Wednesday outlined plans to launch a new car-based SUV modeled after the Jeep Cherokee, as other major automakers took the spotlight at an industry conference to pitch their own hurried responses to the surging demand for more fuel-efficient cars.Read More »Auto industry update