Toyota at a step from bankruptcy?

Toyota at a step from bankruptcy?: Toyota Motor corp. revealed that its car sales have suffered a powerful delay this month, by falling down to 15%. Its net income in the last three months has dropped to 552.47 yen. Though the yen has straightened about 11% against the dollar compared to the last year, and because of that the company has lost in exports, by becoming less competitive and cutting the value of repatriated earnings.

Toyota's managing officer said that the things are changing every day, by these words he meant the big foreign exchange rate swings. The company has lost an output of about 80,000 cars due to earthquakes. Toyota's factories are still trying to recover from the February explosion and fire at a steel-making affiliate. Toyota has cut some costs, it had to deactivate elevators and bathroom hand-driers, and cut back on air conditioning at offices in Japan, because the investors started to run away. The latest Toyota Prius has helped the company in surviving, it has been the most popular model in Japan this year, but its popularity wasn't that high here in US. Sedan Prius' sales have dropped 11% this year. U.S. deliveries have plunged 26% for the broader line. The company announced that its Prius plug-in hybrid is on the way until the winter, which might change the direction.