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Toyota Motor registers first loss since 1941

Japanese car manufacturer Toyota Motor has this evening announced its first loss since 1941 amid the carnage of the car manufacturing industry. This is the latest setback for an industry which has literally falling to its knees over the last few months with thousands and thousands of cars waiting to be delivered to forecourts never mind being sold.

The news from Toyota Motor is expected to put nearly 5000 UK jobs at risk as the company is likely to look at cost saving measures in these extreme conditions. Quite what will happen remains to be seen but the longer the economic slowdown continues the more chance of more jobs being lost. The UK has for many years been a prominent member of the car manufacturing industry in Europe but this evening this position is under serious threat as more and more companies feel the pain.

When you consider the serious situation at Ford in the US, Jaguar Land Rover in UK and the first-time loss for Toyota Motor many are now wondering who will be next to take a hit. If the major car manufacturers are struggling then those further down the food chain will also be feeling the pain.

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