Not Helping Toyota
Toyota became the world’s largest car-maker in early 2009, overtaking GM. Since then, the company has been plagued by constant problems, making a loss in 2009 and continued losses in the first half of fiscal year 2010. The latest is a global recall of many of its vehicles because of “sticky gas pedals.”
Ford, on the other hand, declared its first annual profit in 5 years, making $2.7 billion in 2009. The company was profitable in every region, with its credit arm also making money.
Now that Volkswagen-Porsche has officially overtaken Toyota, if only temporarily, it will be interesting to see how that company fares.
