Toyota’s financial report shows that in fiscal year 2020, due to the sharp drop in global automobile market demand caused by the new Crown epidemic, Toyota group’s global sales volume is expected to drop to 8.9 million vehicles, the operating profit for the whole fiscal year will drop to about 500 billion yen (about US $4.63 billion).
Xinhua News Agency, Tokyo, May 13 (Reporter Prince Jiang Chun-yan Liu) the financial report released by Toyota Motor Corporation of Japan, the top sponsor of the International Olympic Committee, showed that affected by the new coronavirus epidemic, it is estimated that the operating profit of fiscal year 2020 (from April 2020to March 2021) will drop by, and Toyota President Akio Toyoda hopes that people will change their lifestyle.
Toyota’s financial report shows that in fiscal year 2020, due to the sharp drop in global automobile market demand caused by the new Crown epidemic, Toyota group’s global sales volume is expected to drop to 8.9 million vehicles, the operating profit for the whole fiscal year will drop to about 500 billion yen (about US $4.63 billion). In fiscal year 2019, Toyota sold 10.457 million vehicles worldwide and its operating profit was 2.4428 trillion yen (about US $22.6 billion).
Akio Toyoda said that the epidemic gave the world a huge opportunity to reflect on “how to live and change everything that is being done”.
He also said, “this may be the last chance.”
In March 2015, Toyota Motor of Japan signed a top sponsor agreement with the International Olympic Committee, becoming the top sponsor of the first automobile enterprise. It is reported that, toyota’s 10-year sponsorship contract is worth about 200 billion yen (about US $1.85 billion), far exceeding the previously widely considered “standard” 30 billion yen. Toyota believes that to become the top sponsor of the Olympic Games, while supporting the revitalization of sports, it can also take the Tokyo Olympic Games as a good opportunity to promote advanced technologies such as fuel cell vehicles.
The International Olympic Committee currently has 14 top sponsors. Except Toyota, other enterprises are also affected by the epidemic. Airbnb, a Accommodation reservation company, is also affected by the epidemic. Last week, it was announced that 25% of the employees would be cut, and 1900 of the 7500 employees would be laid off as soon as this week. Chesky, co-founder and CEO of the company, said that this year’s revenue forecast was less than half of last year’s level.