Toyota slashes profit forecast after floods

Toyota has cut its profit forecast by 54 per cent after the worst Thailand floods in almost 70 years disrupted production of Camry and Prius cars.

9th December, 2011
Toyota slashes profit forecast after floods
Akio Toyoda, Tokyo's president, shows off the new Prius at the Tokyo Motor Show

Toyota has cut its profit forecast by 54 per cent after the worst Thailand floods in almost 70 years disrupted production of Camry and Prius cars.

The floods led to component shortages worldwide, disrupting output of Camry and Corolla sedans at plants as far away as the US. That compounded the challenges faced by Japanese carmakers in a year marred by the record earthquake and tsunami in March, as well as the surge in the yen.

The...

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