Toyota has recently just announced that they have produced a $1.7 billion profit in the last quarter. This number is very large considering the companies recent car malfunctions with the sticking gas pedals and brakes. This large profit is also due to the fact that many other major car companies are struggling right now. Toyota is also expecting a profit through March when they were earlier expecting a huge loss. This is somehow being expected even though their stock has tumbled about 22%.
This article surprised me very much because of the major issues Toyota has been having. I figured with all these problems they have been having, the companies sales would be way down lately. Apparently, though, I was wrong. I am not surprised, however, that Toyota is probably doing a bit better than other major car companies. Those other companies are on the downfall and are having more problems than just a few malfunctions. This whole recession just started problems and they continued to grow and get worse and worse. It doesnt seem like there is a company out there right now that is not having problems so it shouldnt be too surprising to see Toyota's stock on the downfall. I think that they really need to solve their problems in their cars or their problems will get extremely terrible because people will begin to stop buying their cars.
Read more at:
http://www.msnbc.msn.com/id/35230344/
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