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Toyota Profit Drops 77% (5/11/11)

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  1. White House2:10
  2. United States1:55
  3. GM's2:03, 2:32
  4. Akio Toyoda0:36
  5. quarter revenue1:06
  6. quarter profits0:23
  7. gross domestic product2:40
  8. issuing forecast1:12

Wed, 11 May 2011|

Toyota profit drops 77%; Alleviating chip shortage; Subaru's 'worst' pitchman

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Automatically Generated Transcript (may not be 100% accurate)

Hello Jennifer -- here -- there may eleventh and first ship coming up. And I think there is new and campaign. But now you're top news stories. Japan's devastating earthquake in seen on me hammered a fourth quarter profits at Toyota. The company today it reported -- 77%. Drop in net income. In a quarter marred by production disruptions and sliding sales. But president Akio Toyoda said the recovery is coming along faster than expected. And that output will begin returning to normal levels in June. That's two months earlier than previously forecast. Net income fell far below analysts' estimates. Plunging to about 306. Million dollars in the fiscal fourth quarter which ended march 31. A year earlier Toyota post a profit of one point 35 billion dollars. Fourth quarter revenue fell 12%. Of 56 billion dollars. The company declined issuing forecast for the current fiscal year because of lingering uncertainties. Also in Japan at Renaissance electronics. Which is the world's biggest maker of on him out of Michael controllers. He has moved up its target date to restore production to pre earthquake levels. The new goal is October. Several weeks earlier than presented. With their first chance to do addition to customers in -- Chip shortages have been a major handout from the makers trying to recover from the march 11 natural disasters. That's -- create and retain an additional 4000. Jobs. In the United States. Not get all hot tip top flood. That's what former car czar Ron -- says. Led to GM's announcement yesterday that it would invest two billion dollars in seventeen plants and facilities. In a White House blog bloom says if you lance had not bailed out industry. And says Sudan a massive restructuring. At least a million jobs what had been lost. Instead 1151000. Jobs had been added it is in GM and Chrysler emerge from bankruptcy. This center for -- -- research says GM's investments will preserve a 28000. US jobs. In contribute. To nine billion dollars of gross domestic product. Moving and now T Subaru in this first shift at. -- Now over the and keep that as a as a thunderstorm. Right there Subaru has launched a new campaign featuring this guy he world's worst weatherman. A few big swirling half a -- senior ICI see your roots the auto maker using TV spots. YouTube and FaceBook to promote its symmetrical all wheel drive technology. Meanwhile all -- we asked not maker is using a digital -- -- used -- talent that corolla. Yet it is using the virtual -- here with popular in Japan to sell the car any US. The added targets Asian Americans. And was developed with agency -- trend. It TV spot will run an Asian language programs -- you -- And finally -- first -- -- screen. G and a re releasing this photo last week in Connor of the fiftieth anniversary of the first American traveling anticipates. Here has not Alan shepherd received in 1962 core event shortly after his historic flight. She -- routinely give a -- cars but -- Florida Chevy dealer gave us not that special needs arrangements in the sixties. Since then the core that's -- that card actually permit any astronaut. And saints are spending your time with that giants come back later this afternoon and out of me now take care.

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