Toyota to miss its global sales goal for this year

In a recent interview, Toyota’s Vice President Tokuichi Uranishi announced that due to the fluctuation of the currency and the surge in materials the company might miss its global sales goal for this year.

Toyota is currently the second-largest car manufacturer in the world and according to Mr. Tokuichi Uranishi the company is aiming to sell 9.85 million vehicles this year. The Vice President admitted that if the dollar continues to drop it will be tougher for Toyota to meet its goal.

To make yourself an ideea about how the economy affects the company, Uranishi gave an example which explaines everything: 1 yen gained in the Japanese currency against the dollar cuts Toyota’s profits by $353 million. If we look at the statistics we can see that the yen gained almost 13% against the dollar since January and it is clear that the dollar will loose some more percents by the end of this year. A conclusion would be that the car manufacturer will definetely not meet its sales goal but certainly we must wait for the end of the year to see this.