Page last updated at 07:16 GMT, Thursday, 25 June 2009 08:16 UK

Toyota to review product ranges

Toyota showroom in Tokyo, Japan - 19/12/2008
The Prius has been a rare bright spot for Toyota recently

Toyota is to review all of its products as the new president seeks to revive the world's biggest carmaker.

Akio Toyoda, the grandson of the company's founder, also said the next two years would remain tough as the recession has sapped demand for cars.

Toyota in May reported the biggest annual loss in its history, and it has already forecast worse for this year.

"We want to do everything possible to avoid a third consecutive year of losses," Mr Toyoda said.

Mr Toyoda was appointed as the new president this week as the Japanese carmaker aims to turnaround its fortunes.

For the year to 31 March, it made a net loss of 437bn yen ($4.6bn; £2.8bn), its first since 1963. It has predicted a loss of over 800bn yen for the current financial year.

While US rivals Chrysler and General Motors have filed for bankruptcy and borrowed heavily from the government, Toyota is trying ride out the downturn without closing any plants or cutting jobs.

Mr Toyoda said its efforts at reviving its fortunes in Europe would focus on petrol-electric hybrids.

The company launched the latest revamp of its Prius hybrid in Japan last month and has received over 180,000 orders in that country so far.



Print Sponsor


RELATED INTERNET LINKS
The BBC is not responsible for the content of external internet sites


FEATURES, VIEWS, ANALYSIS
Has China's housing bubble burst?
How the world's oldest clove tree defied an empire
Why Royal Ballet principal Sergei Polunin quit

BBC iD

Sign in

BBC navigation

Copyright © 2020 BBC. The BBC is not responsible for the content of external sites. Read more.

This page is best viewed in an up-to-date web browser with style sheets (CSS) enabled. While you will be able to view the content of this page in your current browser, you will not be able to get the full visual experience. Please consider upgrading your browser software or enabling style sheets (CSS) if you are able to do so.

Americas Africa Europe Middle East South Asia Asia Pacific