The only good news came from across the pond, at Toyota Motor Corp. It is reported that Toyota is expected to release its 2006
sales targets shortly. If what they forecast comes to fruition, the Japanese auto giant while jump past industry leader GM, and by so doing become the world's largest automaker.
The Wall Street Journal reports Toyota's plan could set a production goal in 2006 of 9.2 million automobiles, 11 percent more than it expects to make in its current fiscal year. GM made 8.99 million cars and trucks in 2004 and has been bullish in projecting it will build 9.1 million this year.
On the flip side, let us take a look at the only Japanese money-losing carmaker, Mitsubishi Motors. It has been a long, hard month for Mitsubishi. First, it posted a record $1.3 billion net loss for the first two quarters of the year. Then Mitsu slashed its forecast for the full year through March 2006 to a net loss of $2.2 billion on sales of $19.1 billion.
Mitsubishi
Motors' stock price may be feeling whipped-lashed after DaimlerChrysler sold it's remaining Mitsubishi shares to American Investment bank Goldman Sachs, which then sold it's newly acquired stock to investors, keeping a tidy portion for itself as part of its commission. All of this trading occurred within hours.
Not to mention, the company was plagued by a series of recall scandals only a year ago.
It may seem like all doom and gloom at Mitsubishi but there may be three sets of headlights at the end of the tunnel. Japan's oldest automaker has three new vehicles that have the industry abuzz. In the midsize pickup market its Raider offers a lot of style and value, while the "evolution" of its compact Lancer has been metaphored into the Concept X and the Sportback Concept models.
 |
| The only good news came from across the pond, at Toyota Motor Corp, which is due to add yet more models to its lineup such as the new FJ Cruiser. (Photo: Toyota Canada) |
The Wall Street Journal reports Toyota's plan could set a production goal in 2006 of 9.2 million automobiles, 11 percent more than it expects to make in its current fiscal year. GM made 8.99 million cars and trucks in 2004 and has been bullish in projecting it will build 9.1 million this year.
On the flip side, let us take a look at the only Japanese money-losing carmaker, Mitsubishi Motors. It has been a long, hard month for Mitsubishi. First, it posted a record $1.3 billion net loss for the first two quarters of the year. Then Mitsu slashed its forecast for the full year through March 2006 to a net loss of $2.2 billion on sales of $19.1 billion.
Mitsubishi
 |
| It may seem like all doom and gloom at Mitsubishi but the Concept X points to what may potentially be a bright future. (Photo: Mitsubishi Motors North America) |
Not to mention, the company was plagued by a series of recall scandals only a year ago.
It may seem like all doom and gloom at Mitsubishi but there may be three sets of headlights at the end of the tunnel. Japan's oldest automaker has three new vehicles that have the industry abuzz. In the midsize pickup market its Raider offers a lot of style and value, while the "evolution" of its compact Lancer has been metaphored into the Concept X and the Sportback Concept models.