Toyota Motor Prints Surprising Quarterly Profit on Costs cuts and Boosts ...

11/5/2009-Toyota Motor ( NYSE:TM ) reported Q2 net income of 21.8 billion yen (USD$242 million), eclipsing estimates for a fourth consecutive loss of 24.95 billion yen.

Revenues in the quarter fell 24% year-over-year to $4.54 trillion yen (USD$50 billion), from 5.975 trillion yen in the year-ago period.

Even though Toyota raised its vehicle sales projections to 7.03 million vehicles from 6.6 million, it still represents a 7% decline from over 7.5 million vehicles the company sold in the last fiscal year.

Toyota cut in half its expected fiscal year loss to 200 billion yen (USD$2.2 billion), down from 450 billion yen (USD$5 billion).

Executive Vice President Yoichiro Ichimaru said, "We continued to make improvements in our reductions in fixed costs... In addition, demand-stimulating measures by governments worldwide have contributed to our revised targets."

autosport.com - NASCAR News: Toyota: Ganassi switch possible


Earnhardt Ganassi Racing could still switch to Toyota for 2010, even though the Japanese car manufacturer is not looking at expanding its current roster of NASCAR Sprint Cup teams.

Speaking at Texas Motor Speedway, Toyota Racing Development president Lee White addressed rumours suggesting Earnhardt Ganassi Racing could switch to the Japanese manufacturer next year.

While admitting they have discussed a possible association with Chip Ganassi, White said it has been natural for them to do so, having worked together in Champ Car and IndyCar between 2000 and 2005.

Ganassi currently races the Lexus brand for Toyota in Grand-Am.

"We've had discussions with a lot of people," White said. "As everyone knows we have a long relationship with Chip, all the way back to 2000, so it's almost ten years as partners in motorsports. At this point there's nothing decided. And yes, we've had discussions with Chip, but we've had discussions with a lot of people."

When asked for his opinion on Ganassi's 2009 season in its first year with Chevrolet, he admitted to being impressed by Montoya's run during the Chase for the Sprint Cup series title. He said it was "very impressive, considering how new Juan is to NASCAR racing."

However White said Toyota is not looking at expanding the number of teams it currently supporta in the Sprint Cup.

"We are not pursuing other teams," said White. "But obviously the NASCAR rules state that if any teams want to run our product, relative to other brands, then it's our obligation and our commitment to NASCAR to provide the parts and pieces available."

Chip Ganassi's team could still make the switch through a technical relationship with a current Toyota squad like Joe Gibbs Racing, something White admitted was possible.

"That's a possibility," said White. "Any team that chose to run the Toyota product would be evaluated on its own merit and then decisions would be made on whether engineering support would be provided to that team or not from TRD, or whether their relationship would be with a current team or how it would work out."

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