Toyota Records Record Profit

Discussion in 'Politics' started by KenH, May 11, 2006.

  1. KenH

    KenH
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    Obviously with a record profit, Toyota must surely be gouging consumers. Congress needs to call hearings and investigate Toyota. Call its CEO on the carpet for this outrage, Senator Schumer!

    Toyota Profit Hits Another Record
    Wednesday May 10, 12:12 pm ET
    By Yuri Kageyama, AP Business Writer
    Toyota's Quarterly Profit Jumps 39 Percent; Fiscal Year Profit Hits Another Record


    TOKYO (AP) -- Toyota's profit in the January-March quarter jumped 39 percent as the world's No. 2 automaker marked its sixth straight record fiscal year of booming sales, the company said Wednesday.

    Toyota Motor Corp. recorded a net profit of 404.1 billion yen ($3.6 billion) in the final quarter of fiscal 2005, up from 290.7 billion yen in the same quarter the previous year.


    - rest at LINK
     
  2. Joseph_Botwinick

    Joseph_Botwinick
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    It is a stupid comparison since there is plenty of competition for Toyota and nobody has to buy a car from Toyota. You don't even have to have a new car...it could be used and work just fine. Everyone has to have gas to get to work.

    Joseph Botwinick
     
  3. KenH

    KenH
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    And there are plenty of companies to purchase gasoline from - Murphy USA, Exxon, Mobil, Phillips 66, Valero, etc. Probably as many as, if not than, car manufacturers that consumers in the U.S. typically purchase vehicles from.

    I'm not holding my breath to expect consistency from Senator Schumer or any of the other folks in Washington that spew forth their populist poppycock about oil and gasoline while they do their political grandstanding.
     
  4. Joseph_Botwinick

    Joseph_Botwinick
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    To my knowledge, there is no used gas with used gas prices. Stupid analogy.

    Joseph Botwinick
     
  5. StefanM

    StefanM
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    KenH,

    You know full well that there is a significant difference between selling a commodity and selling an automobile.
     
  6. KenH

    KenH
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    Yes, I do, Stefan. Since cars are not traded on the NYMEX Toyota has way more flexibility in the price it charges consumers. Senator Schumer needs to show some spunk and call the CEO of Toyota on the carpet to bring down its car prices immediately and stop gouging the American consumer. I mean after all, if one can't afford a vehicle, the price of gasoline is rather meaningless in the area of personal transportation.
     
  7. Joseph_Botwinick

    Joseph_Botwinick
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    You have only one problem: We can afford a new vehicle. Gas, on the other hand, is actually an ongoing expense which we are becoming less and less able to afford. Tell me where the used gas with the used gas prices are and I will accept your analogy as anything but stupid and then go buy some.

    Joseph Botwinick
     
  8. KenH

    KenH
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    Gasoline prices have dropped by $0.21/gal. here locally. It's becoming more and more affordable here.

    But I haven't seen a drop in the price of Toyota vehicles here locally. During a time of war it is outrageous for Toyota to be taking advantage of cash-strapped Americans as they pay to protect Japan from terrorists.
     
  9. StefanM

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    Toyota isn't gouging consumers. The reason it is making such an enormous profit is that people WANT to buy its cars. If Toyota lowered its prices further, there would be little to no American auto industry.
     
  10. StefanM

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    I know you're doing this tongue-in-cheek, KenH.

    I'll admit that Schumer is just playing politics with the oil business.
     
  11. KenH

    KenH
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    Ah ha!!!! Not simply price gouging but predatory pricing as well by Toyota to eliminate the competition so that it can raise its prices even higher, thereby making even higher obscene profits and gouging the American consumer even more while he/she pays to protect Japan from terrorists.

    Senator Schumer, Senator Kennedy, Senator Clinton - WHERE ARE YOU ON THIS ISSUE!!!!!
     
  12. StefanM

    StefanM
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    You can stop the charade now [​IMG] .
     
  13. KenH

    KenH
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    If I have time before work in the morning I may call in to a friend who hosts a radio call-in show from 6:00-7:30 and launch into a tirade. It will be a hoot! [​IMG]
     
  14. Joseph_Botwinick

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    Where did you say I could buy used gas at used gas prices? Without this information, I will just write this thread off as another mindless rant from someone who works for the oil company. :D

    Joseph Botwinick
     
  15. StefanM

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    Have fun with that, KenH. I'm too tired to continue, so I'll get some sleep.
     
  16. Ben W

    Ben W
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    Toyota will keep on making record profits, as they have the ability to look ahead at market trends and act accordingly.

    Toyota have recently set up a new plant in chekoslovokia which interestingly is a joint shared facility between Toyota, Citroen and Peuguot. Citroen has been using Peuguot engines for some while now, what I wonder if this is an indicatior that Toyota will soon also be using the Peuguot Common Rail Turbo Diesel engine. Should that happen, alot of other manufacturers will be left behind in the technology stakes quite rapidly.
     
  17. Eliyahu

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    Is it wrong according to Bible if anyone makes good profit? Are there not sufficient competition in the supply market of automobile ?
    This is a little different from Petroleum/ Gas market. I think God is merciful and generous Capitalist.

    However, I think we have to approach this matter from another angle.

    As we notice from Oil Refinery plants and Gas companies, they lack business ethics too much.
    Gas companies take the chance of the energy crisis to increase their profits by ripping off the millions of consumers by using their oligopoly status at the time of crisis.

    Some news media reported Toyota has 2 faces. They spent over 800 million Dollars per annum to the media and manage their image quite well.
    Toyota is quite famous for Hybrid engines but the reality is that those Hybrid cars are not so efficient as they advertized and the fuel consumption of the Hybrid is almost the same as the normal gas cars, and sometimes Hybrid cars are even worse than the gas cars in gas mileage, let alone all the high cost for the maintenance and the repair. Highlander model showed the same problems.
    Then Toyota works against Environment, by lobbying againt the environmental law in California. Toyota try hard to prevent the lawmakers from working on the emssion control etc.

    I heard 30% of Toyota's employees are non-regular employees but hired thru the agencies and paid very low, since they are Japanese re-immigrated from South America. Then another strategy of Toyota is to squeeze the sub-contractors and toll manufacturers for cheaper prices of the parts.

    I had too often problems with Lexus ES 250 because the parts were out of order relatively often and the repair cost were quite high.

    Nissan Altima is underrated. Nissan is less recognized by the people compared to their quality.

    Again, what we have to check closely is not the simple matter of profit, but the matter of Business Ethic, instead of profit maximization which results from Ripping off the people.
     
  18. KenH

    KenH
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    Can you offer some proof, Eliyahu?
     
  19. carpro

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    [​IMG]
     
  20. Eliyahu

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    Can you offer some proof, Eliyahu? </font>[/QUOTE]There were many news articles reporting that Oil giants like Exxon and other gas companies's profit soared even up to 900% and the retiring CEO of Exxon is getting 400 million USD for his severance pay.
    As for Toyota, Highlander( gas+Battery) recorded 20.6 miles per gallon much lower than they advertized 33 mpg. This was reported by NYT and I got it thru other source.

    We have to approach this matter from Business Ethics, no doubt. As long as they are sound in the ethics, they deserve the good profits, but otherwise, they are cheating the people.
     

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