Toyota’s first ever loss in 71 years of business.
In what can only be described as a stunning disclosure, Toyota is forecasting its first ever loss in over 71 years of being in business.
Toyota expects to reduce its global production for vehicles by over one million and will cut back operations significantly.
My concern is whether Toyota will consider pulling out for Formula One like Honda Corporation did recently due to the global financial crisis – time will tell what happens next. For the full story on CNN, go here.