Toyota president Katsuaki Watanabe said during the annual meeting with shareholders that the company expects even a more difficult year but apologized for the results the the Japanese manufacturer posted in 2008.
"We expect to face continued hardship in our business environment for the near term, despite signs of recovery in some areas," Watanabe was quoted as saying by just-auto.com. "We are sorry to have worried our shareholders."
Carlos Ghosn, head of Nissan, had a similar statement, expressing his disappointment towards the financial results recorded by the company it leads last year.
"I feel your disappointment," Ghosn said. "I never imagined" that Nissan would pay no year-end dividend. We really feel very bad about it. But I can say as soon as we see free cash flow significantly positive and the financial crisis behind us ... immediately I can tell you we will pay the dividend," he added.
Speaking of the company's future lineup, Ghosn emphasized the importance of electric cars, as they produce absolutely no emissions and work without the need for combustion engines.
"We do not put electric cars and hybrids in the same category," Ghosn told shareholders. "Hybrids are fuel-efficient technology. EVs are no fuel. Hybrids are an optimisation of combustion engines. EVs have none. Hybrids reduce emissions by 20 to 30%. EVs have none."
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