khosk
03-03-2009, 08:16 AM
The recession/depression? is now taking it's toll on some of the Japanese automakers. Toyota has asked Japan for a 2 billion dollar loan to keep from paying incredibly high interest rates.
In other automotive news, China bought more cars in a month than the US did for the first time ever.
http://www.bloomberg.com/apps/news?pid=20601080&sid=az4LvsoAwQJU&refer=asia
Toyota Motor Corp., forecasting its first loss in 59 years, is seeking loans from the Japanese government as private investors demand up to 50 percent more in interest for the company’s debt.
The company’s financial unit may ask for 200 billion yen ($2 billion) in loans, public broadcaster NHK reported today, without citing anyone. Toyota Financial Services Corp. spokesman Toshiaki Kawai said the unit is in talks with state-owned Japan Bank for International Cooperation, without confirming the amount
In other automotive news, China bought more cars in a month than the US did for the first time ever.
http://www.bloomberg.com/apps/news?pid=20601080&sid=az4LvsoAwQJU&refer=asia
Toyota Motor Corp., forecasting its first loss in 59 years, is seeking loans from the Japanese government as private investors demand up to 50 percent more in interest for the company’s debt.
The company’s financial unit may ask for 200 billion yen ($2 billion) in loans, public broadcaster NHK reported today, without citing anyone. Toyota Financial Services Corp. spokesman Toshiaki Kawai said the unit is in talks with state-owned Japan Bank for International Cooperation, without confirming the amount