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Toyota Cuts 2011 Profit Forecast by 54%

Toyota has already announced in the past that it’s giving up on its original profits estimate due to the massive earthquake that hit Japan and disrupted production, as well as the Thai floods, but now the company has finished looking at its numbers and a new estimate for the 2011 fiscal year was released.
At least there's profit 1 photo
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Toyota’s profits are supposedly going to be 54 % power than expected, due in part to disrupted production of the new Camry and the Prius, but also to its brand image that’s been affected by the mass recalls in recent years. Meanwhile, net income will fall 56 percent to 180 billion yen ($2.3 billion) in the 12 months ending March 31.

Toyota has also announced lower expected sales: 7.32 million cars delivered globally compared to the 7.6 announced back in August.
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About the author: Mihnea Radu
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Mihnea's favorite cars have already been built, the so-called modern classics from the '80s and '90s. He also loves local car culture from all over the world, so don't be surprised to see him getting excited about weird Japanese imports, low-rider VWs out of Germany, replicas from Russia or LS swaps down in Florida.
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