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StraightTalk
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Dec 2 2008, 04:33 PM
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#1
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Toyota Canada posts record sales
December 2, 2008 TORONTO — Toyota Canada Inc. sales rose again in November, pushing Canadian sales of Toyota and Lexus-branded cars and trucks to a company record — a stark contrast to the auto maker's U.S. troubles.Toyota's Canadian subsidiary said Tuesday it sold 12,792 vehicles last month, up by 1.9 per cent over November, 2007. That pushed Toyota Canada's sales for the first 11 months of this year to 214,406, well ahead of its previous best full year in 2007, when it sold 201,326. Toyota Canada is outperforming its U.S. counterpart, whose sales last month were down 34 per cent from November, 2007. Toyota's success in Canada is also in dramatic contrast to how the North American-based auto makers — General Motors Corp., Ford Motor Co. and Chrysler LLC — have been doing either in this country or the United States. General Motors of Canada Ltd. said its sales in November fell to 21,486, a 23.5 per cent decline from 28,071 in the same month of 2007. GM sales in the United States fell 41 per cent in November from the same month of 2007. GM remains by far Canada's largest seller of cars and light trucks, in volume, but has seen a years-long decline in market share as Asian and European competitors grow their Canadian sales. GM Canada said Tuesday that its car sales fell by 35.4 per cent, to 8,419 vehicles, from 13,028 in November, 2007. The decline in light truck sales was less dramatic, dropping 13.1 per cent to 13,067 from 15,043 a year ago. For the first 11 months of 2008, GM's total vehicle sales have fallen by 10.6 per cent to 337,300 from 377,379 in the comparable period last year. GM pointed to the Pontiac Vibe and Chevrolet Malibu as bright spots in its product lineup, with their Canadian sales up 27.2 per cent and 131 per cent respectively. It didn't release volumes. Toyota Canada said nearly half its November sales were of vehicles built in Ontario, where the company has factories in Cambridge and Woodstock. Meanwhile, Chrysler Canada Inc. reported its sales fall to 15,560 in November, down 15.6 per cent from 18,445 in the same month of 2007. Honda Canada Inc. sales fall to 9,224 units, down 33 per cent from November, 2007. |
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Goat Boy©
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Dec 2 2008, 04:37 PM
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#2
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http://www.freep.com/article/20081126/BUSI...1014/BUSINESS01
QUOTE Fitch downgrades Toyota's ratings
By BRENT SNAVELY • FREE PRESS BUSINESS WRITER • November 26, 2008 Fitch Ratings has downgraded Toyota Motor Corp.’s long-term currency and debt ratings to ‘AA’ from ‘AAA’ late Tuesday saying Toyota is suffering severely from turmoil in the automotive industry. “Multiple negative developments, including the rapid and significant appreciation of the yen, the concurrent downturn in all major auto markets and high raw material costs, have occurred simultaneously and are impacting earnings and cash flow, even for the strongest players in the sector,” Fitch said in a statement. According to Fitch, Toyota needs to review its product mix and its speed of expansion. Earlier this month, when Toyota reported earnings, the company said that President Katsuaki Watanabe had formed an Emergency Profit Improvement Committee to reduce costs and maximize revenue. On Nov. 6, Toyota said it expects its net income to decline 68% to about $5.6 billion for its fiscal year, which ends March 30, setting the company up for its first profit decline in eight years. Fitch put Toyota’s credit ratings under review on Nov. 17 and said Tuesday it has concluded that review. And while it has lowered Toyota to ‘AA,’ Fitch defines companies with that rating as having a very high credit quality. Toyota has continued to report profits for its global operations while Ford Motor Co. and General Motors Corp. have reported multi-billion dollar losses. Still, in North America, Toyota reported operating losses of $352 million for the first half of its fiscal year compared with a profit of $2.8 billion for the same period last year. “In Fitch’s view, the negative developments in the industry are so substantial and fundamental, that even the strongest player — Toyota — can no longer support a ‘AAA’ rating,” said Tatsuya Mizuno, director of Fitch’s corporate team. |
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StraightTalk
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Dec 2 2008, 04:38 PM
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#3
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Honda Canada opens new engine plant
Author: Kurtis Elsner Date: Sep 25, 2008 http://www.simcoe.com/article/117424 As the North American economy teeters on the brink of recession, politicians were all smiles at Honda of Canada Manufacturing Thurs., Sept. 25, as the company celebrated the opening of its new engine plant.The plant will churn out about 800 engines a day at peak production. The four-cylinder engines will be used in the production of its Civic car in Alliston. |
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| Sponsor Ad | |
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shinta chan
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Dec 2 2008, 04:42 PM
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I can understand why Toyota sale where so high
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| Doc Watson is a nutbar racist |
Dec 2 2008, 04:59 PM
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#5
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Toyota Canada posts record sales December 2, 2008 GM pointed to the Pontiac Vibe and Chevrolet Malibu as bright spots in its product lineup, with their Canadian sales up 27.2 per cent and 131 per cent respectively. It didn't release volumes. The Pontiac Vibe is a Toyota Matrix in disguise. http://en.wikipedia.org/wiki/Pontiac_Vibe |
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StraightTalk
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Dec 2 2008, 05:06 PM
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#6
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The Pontiac Vibe is a Toyota Matrix in disguise. http://en.wikipedia.org/wiki/Pontiac_Vibe Private branded engine. LOL |
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Baggio
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Dec 2 2008, 05:18 PM
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#7
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Japanese cars is what most people want. Last year 7 of the top 10 best selling cars in Canada were Japanese.
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StraightTalk
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Dec 3 2008, 12:13 PM
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#8
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Antiu
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Dec 3 2008, 09:40 PM
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#9
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We shouldn't.
Domestic cars are all garbage clearly. Bailing them out would just waste a whole lot of money into a sinking company. Sure we'd save a whole bunch of jobs for awhile, but in a couple years, we'd all be homeless, lining up for welfare Wednesday. Think about the future, people! |
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Marion Morrison
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Dec 3 2008, 10:06 PM
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#10
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So where is the economic crisis claimed by the Opposition in their power grab?
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| Japanese manufacturer pull out |
Dec 3 2008, 10:34 PM
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#11
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Check out who is pulling out of the most premier automobile show in the world. They include several Japanese car companies.
Nissan, Infiniti, Suzuki, Rolls Royce, Ferrari, Mitsubishi, Land Rover and Porsche are pulling out of the Detroit Auto Show. Dealers want Nissan to rejoin auto show http://www.detnews.com/apps/pbcs.dll/artic...336/1364/AUTO01 Japanese cars is what most people want. Last year 7 of the top 10 best selling cars in Canada were Japanese.
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universal child
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Dec 4 2008, 08:36 AM
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#12
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So then why should we bailout GM & Ford like the Coalition wants with minimal strings & requirements attached? Its important no doubt as resources are limited and bailing out an industry that is unable to compete is a waste when Canadians and cities are in much need the money and job stability. Unless they can compete they won't stand a chance and they can't so they won't and more and more small car companies will look towards Canada as a place to invest. Do you know anything about the billions they are planning on putting on mortgages whats that all about as there is little or no information on subject? Apparently some lawyer is going to be looking at the viability of giving handouts to the Big 3 who are looking for that easy money. |
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StraightTalk
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Dec 4 2008, 11:25 PM
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#13
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http://www.autonews.com/apps/pbcs.dll/article?AID=/20081204/ANA02/312049780/1176
Toyota opens new Ontario plant, brings 1,200 jobs Automotive News December 4, 2008 - 4:15 pm ET TORONTO (Reuters) -- Toyota Canada Inc. cut the ribbon on a new C$1.1 billion ($859 million) assembly plant in Woodstock, Ontario on Thursday, bringing about 1,200 new jobs to a sector that has been losing jobs rapidly. The plant is assembling the RAV4, a compact sports utility vehicle, and will produce up to 100,000 vehicles a year in Woodstock, about 88 miles southwest of Toronto. The Japanese-based automaker also has a plant in Cambridge, Ontario, about 40 minutes, northeast of Woodstock, employing 4,500 people to build the Corolla, Matrix and Lexus RX 350. The Woodstock plant opens the same week that executives from the Detroit 3 -- General Motors, Ford Motor Co., and Chrysler LLC -- took their case for emergency aid to the U.S. Congress. They are asking for $34 billion in loans and credit lines to stay afloat until market conditions improve. Toyota has not been immune to the market downturn. The company has already had to temporarily scale back production plans at the Woodstock plant. It said on Nov. 20 it will halt production at all of its North American facilities for two days this month, Dec. 22 and 23, in reaction to slow U.S. sales. The government of Ontario provided more than C$22.8 million for skills training, in addition to a grant of C$70 million to help bring the Toyota plant to Ontario. "Having the best workers helps attract the best jobs, and that's why we're so pleased to work with Toyota," said Ontario Premier Dalton McGuinty. "Our government will continue working with the auto industry to secure good jobs for Ontario families." The Toyota plant was the first new auto plant to be built in Ontario in 20 years. |
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