Whos most likely to be the only profitable Australian manufactor??

[Joe5619]

Toyota posts a lost as well.

http://www.goauto.com.au/mellor/mell...257758001172B8


No 3 in sales, yet no 1 in profit!!!

[vztrt]

The loss was due to a the ATO slugging them for sending profits o/s.

They still managed a 183million dollar pre tax profit.

[vztrt]

http://theage.drive.com.au/motor-new...0706-zxvd.html

Toyota's $247 million tax slug
TOBY HAGON
July 6, 2010 - 7:43AM



A massive one-off tax bill has driven Australia's largest car maker into the red.

Toyota has been driven into the red for financial year ended March 31 by a quarter-billion dollar slug from the Australian Tax Office.

The car maker refused to discuss the massive tax bill in detail other than to say it was for "prior years" but Toyota Australia has previously been investigated for transfer pricing, whereby profits are shifted overseas.

"Intercompany pricing is complex and we've had discussion with the tax office and overseas tax authorities," said Toyota Australia spokesman Glenn Campbell, refusing to confirm the bill was for transfer pricing.

"This settlement has been reached following a thorough review with the ATO on a very complex issue. We believe we conduct our operations according to all relevant rules and regulations regarding financial matters.

"Toyota Australia will continue to work with the ATO to ensure we have tax clarity and certainty to all parties."

Overall, the car maker reported an after tax loss of $107.9 million in a challenging year that saw its Japanese parent establish a committee for quality following a series of high profile vehicle recalls overseas.

The largest of Australia's three remaining car makers made $182.3 million before tax following cost cutting but was forced to account for a $246.7 million one-off "tax adjustment" (among other tax costs) that put the figure into the red.

Of $8.6 billion in revenue, $1.2 billion came from exports, which experienced a sharp 28 per cent slide to a still industry leading 68,652 vehicles.

Despite a GFC downturn in new-vehicle sales and pressure earlier this year from the global turmoil that's forced Toyota to defend its quality the brand is still comfortably number one in a market experiencing record sales in four-wheel-drives and a trend to smaller vehicles.

Vehicle sales figures released yesterday showed a record 108,722 cars were sold in June, with Toyota's share at 20.2 per cent.

Toyota also credited the second-half buoyancy on the Federal Government's investment allowance.

"The global financial crisis affected demand for Toyota vehicles, but by mid-year, improved market conditions, boosted by the Federal Government's investment allowance helped Toyota Australia achieve 214,465 domestic vehicle sales for the financial year," said president and CEO Max Yasuda.

"Fluctuations in currency, price increases in raw materials, increased global competition from global car importers and global recall activity in late 2009 made local conditions difficult," said Yasuda.

Sales for the Camry Hybrid - the first mass produced petrol-electric car to be produced in Australia - are also picking up following a disappointing start. Toyota says larger fleet and government deals are expected to be sealed in the second half of 2010 ensuring the car achieves its annual target of 10,000.

Toyota's operating profit was in sharp contrast to US-owned Ford and Holden, with the latter battling the bankruptcy of its parent, General Motors, in reporting a net 2009 loss of $211 million. Ford, however, was the only local car maker to report a net profit, breaking its string of losses since 2005 to post a $13 million gain.

Toyota has also been forced to respond to a string of embarrassing safety recalls, which included addressing brake feel issues on 2378 of its environmental hero, the Prius hybrid.

Toyota is also in the throes of recalling 1120 of its luxury Lexus vehicles for engine problems that could lead to stalling.

While none of the recalls that made front page news for weeks did not affect cars produced in Australia, Toyota Australia says it has responded with improved quality measures for its local operations.

"Having participated in this recall activity, we have responded by undertaking new activities to ensure high quality standards are achieved. This includes further developing our capability for early detection of quality issues and rectification.

"Toyota Motor Corporation has formed a Special Committee for Global Quality and Toyota Australia's manufacturing plant at Altona plays a role in this activity."

[Luke Plaizier]

How many of these hits will they take before the general population begins to question the ethics of Toyota?


Lukeyson

[jpd80]

In Toyota’s case, relatively strong domestic sales of 214,465 vehicles were let down by a 28 per cent slide in exports, which still led the Australian industry at 68,652 vehicles, generating $1.2 billion in revenue.

Ever wondered how much Toyota Australia charges
Toyota Middle East for Camrys delivered there?

That works out to $17,479 per vehicle.

[FalconXR6]

Originally Posted by Luke Plaizier

How many of these hits will they take before the general population begins to question the ethics of Toyota?


Lukeyson

Unfortunately old mate Joe Public doesn't care about things like ethics when it comes to buying their shopping trolley's.

And great result for Ford.

[Iggypoppin']

Originally Posted by Luke Plaizier

How many of these hits will they take before the general population begins to question the ethics of Toyota?


Lukeyson

I too am wondering when the masses will stop trusting these whitegoods on wheels....

[5.4 GT]

Down with the whitegoods!

[Adamz Ghia]

Have Toyota ever made huge profits in Oz? I remember one year not long ago they sold a record amount yet only posted a $10 million profit...

[JC]

Originally Posted by 5.4 GT

Down with the whitegoods!

The only issue I see with that sentiment is that it will result in a downturn of cardigan sales as well, thereby affecting 2 major industries (cars and wool).

[JC]

Originally Posted by Adamz Ghia

Have Toyota ever made huge profits in Oz? I remember one year not long ago they sold a record amount yet only posted a $10 million profit...

I'd say that's what got the ATO interested in the first place!

[bobthebilda]

Originally Posted by jpd80

Ever wondered how much Toyota Australia charges
Toyota Middle East for Camrys delivered there?

That works out to $17,479 per vehicle.

They probably sell them at cost, or even less than cost, just to keep production numbers up at the production plant. At 2000 camrys and 1000 aurions sold in australia each month, they couldnt (wouldnt) keep the factory running. The following website has them at 77 to 99000 riyals, thus 88000 riyals equals $27500 australian dollars.
http://www.drivearabia.com/ultimatec...2010-2011-/521

The addition of $10000 to the cars price, probably makes sense when you add transport, duties, taxes and dealer margin etc etc

Remember, you could buy a G8 in the US for $30,000 US (approx AU$34,000) at the time. And Holden were selling the equivalent car here for mid $40 thousands.

[GK]

Originally Posted by 5.4 GT

Down with the whitegoods!

But what about my fridge, oven, washing machine, and even the dryer?

I like my whitegoods!

GK

[Wretched]

I expected nothing less from toyota.
A few years back they were pulled up on a tax related issue, after threatening to pack up and leave Australia, the ATO dropped the case.
Now it looks like the ATO has come back for blood. Good on them.

[GK]

Originally Posted by Wretched

I expected nothing less from toyota.
A few years back they were pulled up on a tax related issue, after threatening to pack up and leave Australia, the ATO dropped the case.
Now it looks like the ATO has come back for blood. Good on them.

Does anyone have any links to information on this? I'd like a closer look at what happened, as I have a good mate who works (and crows) for Toyota.

It's not an arrogance he displays, but sometimes it sure comes close.

GK

[Bundy]

Originally Posted by vztrt

The loss was due to a the ATO slugging them for sending profits o/s.

They still managed a 183million dollar pre tax profit.

Thats like saying its ok to rob peter to pay paul ??
Its still $$ they rightfully owe and it all counts to their bottom line.

They've been caught out, by how much we will probably never know and the ATO is happy to get (AUS) $183 Mil, what figure did they orginally have in mind?

[wrongwaynorris]

Originally Posted by Luke Plaizier

How many of these hits will they take before the general population begins to question the ethics of Toyota?


Lukeyson

Ethics , Toyota could'nt spell ethics let alone understand what they are .

[wrongwaynorris]

Originally Posted by Wretched

I expected nothing less from toyota.
A few years back they were pulled up on a tax related issue, after threatening to pack up and leave Australia, the ATO dropped the case.
Now it looks like the ATO has come back for blood. Good on them.

Tell them to **** off , Mitsubishi played that game for decades and the imbecile politicians pandered to them and in the final analysis all the government Taxpayer funded handouts counted for nothing .

Hey Toyota don't let the door hit you on the way out .

[vztrt]

Originally Posted by bundy

Thats like saying its ok to rob peter to pay paul ??
Its still $$ they rightfully owe and it all counts to their bottom line.

They've been caught out, by how much we will probably never know and the ATO is happy to get (AUS) $183 Mil, what figure did they orginally have in mind?

Not saying it wasn't wrong. Was pointing out they were still profitable (OP suggest Toyota is in trouble here) and probably alot more as I wouldn't put it past them to do what they got pinched for.

[vztrt]

They take out the company everyone can trust survey...mind you it is readers digest!! lol

http://www.caradvice.com.au/73311/to...-trust-survey/

Toyota takes top spot in Australian Reader’s Digest Trust Survey
By Brett Davis | July 7th, 2010

Toyota’s reputation for quality, durability and reliability of its vehicles and customer care has made it Australia’s most trusted automotive brand, well, according to the results in the 2010 Australian Reader’s Digest Trust Survey. The survey took into account more than 50 brands and it is the third consecutive year Toyota has been voted to the top spot.

Toyota Australia’s senior executive director sales and marketing David Buttner said the company’s customer service policy was the key to its success. Mr Buttner said commitment to customer satisfaction was more important for long-term success than either vehicle desirability or price.

“Customers can be influenced by a vehicle they like or a price too good to be true – but they will stay with a company they can trust. Long-term running costs and retained values are paramount when private buyers are outlaying significant funds to buy a new car,” he said.

He also said the survey took into account how the customers are treated during their time owning their car, and that Toyota prides itself in this department as well using the established, capped-price service policy called Toyota Service Advantage. This servicing gives customers the ability to budget for a particular and specific type of service.

“Customer satisfaction is not something you can effectively advertise – your reputation is spread word of mouth by your clients. There are more than two million Toyotas on Australia’s roads – more than any other brand – and at least half of the owners of those vehicles are still in touch with us,” Mr Buttner also said.

[wrongwaynorris]

Originally Posted by vztrt

They take out the company everyone can trust survey...mind you it is readers digest!! lol

http://www.caradvice.com.au/73311/to...-trust-survey/

I wonder how these people feel now that Toyota have admitted to knowing their cars were killing people and hiding it to maximise profits .

[aussie muscle]

David Buttner said the company’s customer service policy was the key to its success

That's where Ford Dealers fall down. it doesn't matter how average a car you sell, if there's little or poor follow-up and customer service you'll drive away a lot of repeat business.

[FNQracing]

Originally Posted by Luke Plaizier

How many of these hits will they take before the general population begins to question the ethics of Toyota?
Lukeyson

Every dog has its day. Toyota's current success will be its downfall. Once a car is popular for so long (read Falcon/Commodore) people just get sick of seeing them and eventually stop buying them.

Whilst I don't think Falcon and Commodore will ever be at the top again, I do think they will enjoy moderate success as a niche vehicle well into the future, rather than a default choice like most Toyotas are now.

The best thing that could happen to the Falcon is for Taxi operators to start using Camry's/Aurions instead.

When you think Falcon, what does 99% of the population picture in their minds?

A grubby yellow cab and a driver with bad BO.

[phillyc]

Originally Posted by jpd80

Ever wondered how much Toyota Australia charges
Toyota Middle East for Camrys delivered there?

That works out to $17,479 per vehicle.

The 4cyl engine and automatic transmission are imported. So, the figure is perhaps a net export figure for those vehicles exported. ie import $5,000 worth of components and export a CUB vehicle at $22,479 leaving the $17,479 figure.

[Bossxr8]

The 4 cylinder Camry engine is actually made here.

Its no suprise Toyota got busted for tax dodging, its widely known they have been doing it for years.

[phillyc]

Originally Posted by Bossxr8

The 4 cylinder Camry engine is actually made here.

Its no suprise Toyota got busted for tax dodging, its widely known they have been doing it for years.

Dead right. Was thinking of the Toyota V6 being imported.

Yeah, there has been suspicions and investigations for several years leading into this 'fine/repayment' by Toyota Australia to the ATO. Adamz Ghia was right about those record sales and miniscule profit attracting the ATO. Especially when a huge portion of those sales were high margin SUV which were concessionally taxed at 5% import duty instead of car duty which was 10% at the time.

If you make money, then pay tax. Simple.

If it wasn't for the backdated tax bill, then Toyota Aus were rolling in it. Helps to charge Japanese prices for Thai made Hilux's.

Personally, I would like to see all 3 report good figures, particularly Ford.

[castellan]

Originally Posted by Joe5619

Toyota posts a lost as well.

http://www.goauto.com.au/mellor/mell...257758001172B8


No 3 in sales, yet no 1 in profit!!!

So what.
In the big picture, it really has noting to do with it.
As to the "yearly profit".
Like they usually don't make a profit in the beginning of each model run, do they. so it's not as simple, like it's a corner fish shop business is it.
We could not really tell jack from what is going on from just a yearly figure.

[Brazen]

Originally Posted by castellan

So what.
In the big picture, it really has noting to do with it.
As to the "yearly profit".
Like they usually don't make a profit in the beginning of each model run, do they. so it's not as simple, like it's a corner fish shop business is it.
We could not really tell jack from what is going on from just a yearly figure.

Didnt you know that on this forum as car enthusiasts we apparantly care more about a misleading profit and loss statement than the actual products themselves. Hence every second Holden Vs Ford thread turns into a slinging match on profitability. "Pfft who cares about quarter mile times, my profit and loss sheet is better than your profit and loss sheet!!"

[vztrt]

Originally Posted by Brazen

Didnt you know that on this forum as car enthusiasts we apparantly care more about a misleading profit and loss statement than the actual products themselves. Hence every second Holden Vs Ford thread turns into a slinging match on profitability. "Pfft who cares about quarter mile times, my profit and loss sheet is better than your profit and loss sheet!!"

Kinda like the experts who talk about sales!!

[Joe5619]

Originally Posted by castellan

So what.
In the big picture, it really has noting to do with it.
As to the "yearly profit".
Like they usually don't make a profit in the beginning of each model run, do they. so it's not as simple, like it's a corner fish shop business is it.
We could not really tell jack from what is going on from just a yearly figure.

So what?????

Do you have any idea why a business opens the front door & lets customers in???