Report: In spite of recalls, Toyota raising annual forecast
 

<p>Filed under: <a href="http://www.autoblog.com/category/recalls-tsbs/" rel="tag">Recalls</a>, <a href="http://www.autoblog.com/category/safety/" rel="tag">Safety</a>, <a href="http://www.autoblog.com/category/toyota/" rel="tag">Toyota</a>, <a href="http://www.autoblog.com/category/earnings-financials/" rel="tag">Earnings/Financials</a></p><a href="http://www.autonews.com/apps/pbcs.dll/article?AID=/20100204/COPY01/302049961/1147"><img vspace="4" hspace="4" border="1" align="right" src="http://www.blogcdn.com/www.autoblog.com/media/2010/02/camry-logo-crop-250.jpg" alt="" /></a>Despite internal predictions that its current throttle-related recall costs may dent company coffers by up to $2 billion this quarter, Toyota has raised its projections for the fiscal year ending in March. That's according to <em>Reuters</em>, who note that the increase comes after the automaker beat its third quarter estimates.<br />
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Toyota had previously stated that it expected to incur a 350 billion yen loss (around $3.86 billion USD), and now it says it only expects to lose 20 billion yen ($220 million). Toyota's previous forecast was considered "excessive conservative," with outside brokerage houses predicting a loss of around 38 billion yen.<br />
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According to the news agency, Toyota says the updated forecast includes around 100 billion yen for recall costs (about $1.1 billion), and another 70-80 billion yen for lost sales (around $830 million), yet at the same time, Toyota says it expects to save some 1.59 trillion yen ($17.5 billion) via "emergency profit measures, an increase over earlier estimates. <br />
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Toyota stock has taken a drubbing over the two weeks since this wave of recalls began, with shares having been down as much as 23 percent - some $30 billion.<br />
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[Source: Reuters via <a href="http://www.autonews.com/apps/pbcs.dll/article?AID=/20100204/COPY01/302049961/1147">Automotive News</a> - subs. req.]<br />
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<a href="http://www.autoblog.com/toyota_recall/guide"><img vspace="4" hspace="0" border="1" alt="" src="http://www.blogcdn.com/www.autoblog.com/media/2010/02/ab-recall-banner-1265228401.png" /></a><p style="padding:5px;backgr ound:#ddd;border:1px solid #ccc;clear:both;"><a href="http://www.autoblog.com/2010/02/04/report-in-spite-of-recalls-toyota-raising-annual-forecast/">Report: In spite of recalls, Toyota raising annual forecast</a> originally appeared on <a href="http://www.autoblog.com">Autoblo g</a> on Thu, 04 Feb 2010 10:28:00 EST. Please see our <a href="http://www.weblogsinc.com/feed-terms/">terms for use of feeds</a>.</p><h6 style="clear: both; padding: 8px 0 0 0; height: 2px; font-size: 1px; border: 0; margin: 0; padding: 0;"></h6><a href="http://www.autoblog.com/2010/02/04/report-in-spite-of-recalls-toyota-raising-annual-forecast/" rel="bookmark" title="Permanent link to this entry">Permalink</a>&nbsp;|&nbsp;<a href="http://www.autoblog.com/forward/19344766/" title="Send this entry to a friend via email">Email this</a>&nbsp;|&nbsp;<a href="http://www.autoblog.com/2010/02/04/report-in-spite-of-recalls-toyota-raising-annual-forecast/#comments" title="View reader comments on this entry">Comments</a>

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