Who had a worse quarter than General Motors?

I'm not especially enamoured of this blog becoming more of a financial blog than a car / driving blog.

But there's no doubt finance is a big part of the car game these days.

And look who had their worst financial fiscal year ever - mighty Toyota!

In the January - March quarter for this year, Toyota actually lost more than General Motors did in the same time frame.

Of course, Toyota, having overtalen GM as the top-selling car maker in the world just last year, is in 'way better financial shape, having posted some gains in recent quarters.

And they still sit on a pile of cash bigger than - well, some really big thing.

But Toyota also went to a Japanese-government controlled bank a month or so ago looking for two billion dollars worth of support.

It IS tough out there.

Comments

[Rick]

Not surprising. Toyota has been doing very well for a long time, so any slow down would result in the "greatest loss" headline. As for GM, well they've been dwindling for the past what...10...20 years?

I personally think Toyota has diversified themselves a little too much in their product line, and sadly has lost a lot of the drivers who once revelled in their excellence in quality, engineering, and performance. We all remember the good Celica, MR2, and Supra days. Even the Cressida was a decent performer and affordable. Now, the Corolla drives with as much or rather lack of spirit as a Camry. Great and powerful in a straight-line sure, but not very confidence inspiring in emergency maneuvers (maybe this is why ESP is standard)?

I think they probably invested too much into the truck market expecting their Tundra to outsell Ford's F150 and Chevrolet Silverado...not sure if that will ever happen. One that the Americans are good at are utility TRUCKS.

[Jim]

Hi Rick:

Good points.

One tiny correction - ESC (Toyota calls it VSC - Vehicle Stability Control) isn't QUITE standard on Corolla. On the base CE model, it is part of the "Enhanced Convenience Package", a $2,995 option. VSC IS standard on all other trim levels.

And to their credit, ABS brakes and active headrests are standard on Corolla across the board.

Jim