Toyota Motor (TM)

[MWM]

Toyota Slashes Annual Profit Forecast
11/06/08 - 02:07 AM EST
Joseph Woelfel

Toyota(TM Quote - Cramer on TM - Stock Picks) said second-quarter net profit fell 69% to 139.8 billion yen ($1.4 billion) and slashed its annual profit forecast on falling sales and a stronger yen.

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Related Articles Carmakers to Talk Funding With Pelosi Ford, GM Monthly Sales Tumble Again Cerberus, Nissan-Renault Halt Talks Market Activity General Motors Corporation| GM DOWNToyota Motor Corporation ADS| TM UPThe Japanese automaker cut its forecast for the year ending in March 2009 to 550 billion yen from a prior forecast of 1.25 trillion yen. The company reported year-earlier earnings of 1.72 trillion yen.
Second-quarter sales fell 8% to 5.98 trillion yen, Toyota said Thursday.