TOKYO, May 12 — Toyota today forecast a sharp drop in sales and operating profit over the coming year as the Japanese giant suffers from the “wide-ranging, significant and serious” fall-out from the coronavirus pandemic that has shredded the global auto market. The manufacturer said its...
An employee works under a Toyota Motor Corp logo at the company's showroom in Tokyo, Japan. ― Reuters pic
Toyota also forecast a near-20 per cent drop in annual sales, with every region suffering a slump, led by Europe and Asia. The car giant said the spread of the disease had affected it in a number of ways: It has had to mothball several plants around the world, parts supply chains are crippled and dealerships are either closed or facing sales slumps.
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