Japanese newspapers are reporting that Toyota is expected to post its first net loss since 1963 for the fiscal year through March.
The Kyodo News agency and The Nikkei business newspaper reported Friday that Toyota will revise its projections for the third time, with an operating loss now expected to be 400 billion yen ($4.5 billion) from the earlier projection of 150 billion yen ($1.7 billion).
Toyota, although a favorite for buyers for its cars’ reliability and resale value, is not immune to the global auto market fallout. If you were planning on buying a Toyota, now is a great time. Don’t be afraid to negotiate the price of the vehicle down, even though some Toyota models are top sellers.