Filed under: Car Buying, Japan, Toyota, Earnings/Financials
Goldman Sachs Japan isn't exactly painting a rosy picture for the future of Toyota. The investment group says the automaker isn't recovering from the automotive implosion as quickly as its competitors. As a result, the predictions regarding the company's return to pre-sales-collapse figures have been toned down. Goldman Sachs Japan now says that while it fully expects to see car sales eclipse the previous average growth rate of 2.6 percent per year, jumping to eight and nine percent from 2010 on, Toyota is only expected to see its pace swell by three percent. Why so slow? According to GSJ, the problem is that Toyota sales have grown soft in Europe, the U.S. and even Japan. While the company is still at the top of the sales charts on its home turf, it's also facing operating losses that are expected to continue on into the near future. Meanwhile, sales in Europe have fallen off from 1.284 million units in 2008 to 858,000 in 2010. Likewise, in the U.S., sales are down by 30 percent in 2010 compared to just two years ago. Head over to Wards to see a full breakdown of the GSJ study.
[Source: Wards]
Why analysts are wary of Toyota's fortunes originally appeared on Autoblog on Tue, 21 Dec 2010 17:32:00 EST. Please see our terms for use of feeds.
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