Toyota Dealer News

Toyota Requests Loan From Japanese Government

March 6, 2009 | Categories: toyota

The auto industry has been buzzing with ongoing news and updates regarding the Detroit Bailout, but American automakers aren’t the only ones in need of government cash. Toyota is now seeking loans from the Japanese government to help it weather the global financial crisis and make cash available despite tightening credit. Toyota is expecting an operating loss of about $4.6 billion this fiscal year, due largely to falling global new car demand. But the automaker’s financial arm, Toyota Financial Services, is also struggling to make cash available for those consumers that actually to want to purchase a new car. As a result, Toyota is seeking a loan for about $2.1 billion...

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