should make 101 happy, toyota sales.....
 

Despite recent reports citing a slight financial nascent, newly instated Toyota president and CEO Akio Toyoda (pictured) recently stated that his brand is "grasping for salvation" on its return to profitability.

"Toyota has become too big and distant from its customers," the chief executive said.
In the U.S., the automaker's sales are down 13% in September from a year ago. Globally, sales are down 28% for the brand.


Executives have mentioned that much of the company's financial turmoil still has to do with a weak U.S. economy, as well as a poor dollar to yen exchange rate. At one point earlier this year, analysts expected sales of 10 million units for the 2009 calendar year, but have now revised the estimate down to 7.34 million. Last year, the company sold 8.97 million units worldwide.

Given a stable exchange rate of $1 to 92 yen, a loss of $8.4 billion is said to occur for the financial year ending next March.

"When you get to this level, it makes it difficult to return to profit on sales growth alone," Akio said to reporters.

Toyoda also offered his apologies to those who have been affected by the recent Toyota/Lexus mass recall. Four people were said to be killed as a result of driver side floor mats sticking to the accelerator pedal.

“We would like to pay our deepest condolences for the loss of four precious lives,” Toyoda announced. “Customers who chose Toyota and Lexus cars because those brands are safe and secure are now beset with anxiety. I regret and apologize for this development."

Source: Reuters, Automotive News (Subscription required)

I predicted this would happen when Toyota opened their mouth and said they wish to be greater than GM. You become too big and now you cannot pay for all of your debt.

Serves em right.