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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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    It's Tuesday and you're watching first step I'm Ursula is a rally. Coming up how Nissan is putting ladies first in Japan. Now Jennifer Vaughn is in the newsroom at your headlines. Things are Islam. Twit you know is changing the way it pays factory workers in Japan and then keep financial daily reports that the new system will focus on performance instead of seniority. The auto makers labor union has been told the plan. Toyota hopes to roll it out to about 60% of its workers in January. 1 goal attracting young talents. Here now are some more detail on billionaire George Soros says plans to invest in car dealerships. Two sources who heard a representatives speak any private dinner in San Francisco this weekend tell Automotive News. That Soros Fund Management is prepared to invest as much as one billion dollars in the business. The representatives said Soros has no intention of running car dealerships. The fund's goal would be to keep the current management in place and help with that capital strategies. The firm is set to be talking with several interested parties. The latest telling you for confirmed deaths are linked to defective at General Motors ignition switches its fifteen. The deadline for filing claims is this Saturday. Kenneth Feinberg the victim's compensation attorney hired by GM to a suspect claims. Exposed to be reviewing Perry class well into a sprained. Check back. Finally the hair raising power in performance of the AMG GT. That's what Mercedes will be touting in its approval added this Sunday. The latest tape and the tortoise vs hare fable. Made its debut on the Ellen DeGeneres show yesterday. Why create TV buzz now. Burst in any marketing VP drew Slavin says half the purpose of AC global ad. Is getting people involved in the discussion before the game. What is the what what you write toilet like mail for Allison can you explain what Internet as. I mean. What is I three anyway Allison BMW unveiled its commercial on The Today Show earlier yesterday. You can watch if not ears of Super Bowl ads at auto news.com slash super ads Ers flown back to you. Thanks Jennifer and he said he plans to put more females to work in Japan by doubling the number of sales woman took 14100 but 2018. And funny thirteen the auto maker began designing Japanese dealerships for mothers. By putting many cars on the show floor and offering nursing rooms and play areas for children. On Friday the auto maker said it will triple its ladies first dealerships. To 300 in the coming fiscal year and aims to have 700 by 2018. According to Bloomberg. And we'll stay with Nissan for a first shipped back to. Yeah. One million that's the number of vehicles automaker has exported from United States. This vehicle was manufactured in sneer at Tennessee and will be sold in South Korea. Nissan has been building cars in the U lasts for 31 years. It's two US plants now export vehicles to 68 global markets. To have achieved more million units of exports. Proved so we're making it attractive. I'm globally competitive products. And that's our show for today thanks for tuning in.

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