GM Lost 6 Billion Q1... But Toyota LOST MORE!

Discussion in 'American Cars' started by exer51, May 9, 2009.

  1. #1 exer51, May 9, 2009
    Last edited by a moderator: Apr 25, 2016
    Articles are way too long to post in the thread, but basically Toyota is bleeding more cash than GM which surprised the shit out of me. GM lost 6 billion and Toyota lost 7.7 billion 1st quarter. Guaranteed most of the talking heads on TV will never mention it, and simply talk about how GM is still doing everything wrong.
  2. But toyota isnt on the verge of bankruptcy
  3. I guess Toyota should have built cars people want <A BORDER="0" HREF=""><IMG BORDER="0" SRC="pitlane/emoticons/wink.gif"></A>
  4. exer, you're so stupid.
  5. Toyota is built around a 14-15 million car per year sales rate. If sales dip below that too much they bleed just like everyone else.

    Also, toyota #$%#ing sucks.
  6. But classy black people love the Venza!
  7. UAW's fault
  8. Somebody did shittier than we did for a few months!

    This calls for a whole new box of cleanex!
  9. Exer is still a #%$got.
  10. Yea I know. I just was surprised by this because I wouldn't have expected Toyota of all companies to be losing more cash than GM... So I posted it.
  12. #$%# toyota and everyone who drives one.
  13. picard.jpg..

    not ALL toys are bad..and that's alot coming from me.
  14. Interesting statistics for sure, and few expected Toyota to lose that much. But consider the big picture:

    "first annual loss in six decades"
    "Throughout much of last year, Toyota’s sales were booming, thanks to its reputation for quality and good mileage, and the popularity of its Camry sedan and Prius hybrid.
    It even overtook General Motors Corp. last year to become the world’s biggest automaker by annual sales."

    has been losing billions of dollars per year *for years* (even 10's of billions of dollars)
    "For all of 2008, GM lost $30.9 billion."
    "GM’s cash burn for the quarter was offset by $9.4 billion in U.S. government loans GM received in the first quarter. GM got another $2 billion in April, bringing total government loans to $15.4 billion."

    Without these loans, wouldn't GM's losses be even larger?
  15. It's been over a decade since my accounting class, so maybe someone else can chime in. But, I think loans are considered in the debt column. Any accountants want to give their .02?
  16. Dont forget that the largest reason for this large of a loss is the fluctuations in the value of yen.
  17. bs, it's the 300million dollars an hour they pay to the UAW <A BORDER="0" HREF=""><IMG BORDER="0" SRC="pitlane/emoticons/tongue.gif"></A>
  18. Toyota > GM
  19. In this instance, you would be correct.
  20. obviously.

    Chapter 11, chapter 11.
  21. No one is denying that Toyota has been and is in a far better position. I just wanted to throw in the fact that they lost more dough because I thought it was a bit shocking, and it made me LOL with how much everyone has been talking them up.

    I believe the 6 billion loss is what they lost. They needed the loans to help their cash flow(because they just lost 6 billion #$%#ing dollars), but I don't believe they're counting the loans as income. That should be simply extra debt they took on. So they lost 6 bil, and needed loans to keep going, but they only actually LOST 6 billion.
  22. And why wouldn't everyone be talking them up? Just because they can legitimately claim that the current economic situation really is the culprit of their problems? Practically all the major companies are hurting. The implication made by some in this thread is that it's somehow the result of them *not* making cars that people want to buy. (In other words, there is some denial that they really are in a far better position.) Over the past year, that hasn't been the case. And unlike *some* companies, they haven't had to admit to a lackluster product lineup. Toyota's truck sales have hurt, yes, but they have other products in the lineup that appeal to more people.
    Your "...But Toyota LOST MORE!" headline and the comment that people will still say "GM is doing everything wrong" while turning a blind eye to Toyota's losses implies that Toyota is not really in a far better position, that they are making the same kinds of mistakes that GM is making. ("Look! The proof is in their higher quarterly losses!")

    So far, no one here seems to know whether the loans is counted in the income/loss/profit calculations. In any case, that doesn't really matter, though the article mentions the loans as an "offset." The point is that they have been receiving government assistance even *before* these quarterly losses were announced. From the article, it sounds like they'd already received $4B in loans before the quarter even started. This is money coming into their company not as a result of product sales or service. Do you know how much gov't funding Toyota has received, if any? If not, how can you conclude they are "bleeding more cash" than GM?
  23. Well, rather than imply Toyota is #$%#ing up too what I intended to imply is that GM isn't #$%#ing up as bad as everyone in the media likes to pretend. If you recall before this whole boondoggle started everyone was pretty optimistic that Ford and GM both were on track for kicking ass and taking names with all the restructuring they'd been doing. Then 5 dollar gas happened (which they'd already been developing better small cars, they simply hadn't hit the market yet because shit takes time, which the media pretends they weren't even planning on doing), and the economy tanked. Obviously since they had been having trouble they were in a far worse position than Toyota or Honda or whoever to survive this thing.

    So I'm not saying Toyota hasn't been doing a great job in the past, but rather saying that GM is doing a pretty decent job of things recently all things considered. I wish all this shit had happened 2 years later because I think they would have been in a much stronger position just a wee bit farther down the line.

    As for the losses, I tried finding an article that explicitly said they only lost 6 billion. Couldn't. But that's how accounting should work. Bottom line is they wouldn't have been able to survive losing 6 bil without the loans, but they only lost 6 billion from operations according to one article.


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