Toyota is in the Red

The economy in the United States failing but our government is taking action to help bailout "The Big Three" not only to save them but to save our economy. The world's largest auto manufacturer Toyota declared that it would be suffering major loss's that would affect the world economy. Toyota fiscal year ends March 31 and they are predicting a loss of about 350 billion yen ($3.9 billion) which is more than double its previous prediction of expected losses. The company claims that its losses are due to the growing strength of the Japanese yen and the steep declines in global auto sales.

Toyota while suffering this major loss has not had a loss in 59 years when it was being guided by its founder Kiichiro Toyoda. The company named Akio Toyoda, the grandson of its founder, as its president and he will be taking charge in June. Mr. Toyoda is expected to bring the company out of its slump and bring it forward into a new era of success. The world waits in hopeful anticipation that Toyota will once again reach the top in sales as it has in past years. The auto maker passed General Motors in 2008 in sales and in performance. The world is waiting to see how Toyota fairs in sales this new upcoming year.

Although Toyota is not considered an American Automaker they have many plants in the United States that employee's many Americans. There are plants that are owned by Americans that supply Toyota with parts in the United States and in Japan. Toyota expertise in their ability to change accounting procedures in order to make profits has been adopted by some of our major corporations. The Toyota Company known for its commitment of lifelong employment which it started six decades may have to take a second look at its policy unless auto sales start to pick up. Many people feel that the high price of oil and gas is a major factor in the world economic upheaval. It seems that many economists feel that the war in the Middle East has cost not only the United States but other countries around the world. Toyota a major player in the Auto industry in America and around the world believes in hybrid vehicles and will continue to make the Prius hybrid to the credit of their initiative that we hope our leaders in the industry will continue to follow.