A Note To The Treasury: Toyota (TM) Will Lose $5 Billion

Cars and Drivers

Published: April 12, 2009 6:27 am

Last Updated: April 27, 2020 4:03 pm

The Treasury Department may want to adjust what it thinks the cost of the bailouts of GM (GM) and Chrysler will cost. Word out of Japan is that Toyota (TM) will loss $5 billion in the next fiscal year.

According to Reuters, ” Toyota Motor Corp’s operating loss could balloon to over 500 billion yen ($5 billion) in the year to March 2010, as the global economic crisis hits car sales.” Since Toyota is picking up market share and still has a lower cost base that The Big Three it is likely to do better on its bottom line that The Big Three. That may change based on new agreements between the UAW and GM, Ford (F), and Chrysler, but a new contract is not in place for all three companies.

If Toyota has a cold, US car companies will not recover from pneumonia anytime soon.

Douglas A. McIntyre

Are You Still Paying With a Debit Card?

The average American spends $17,274 on debit cards a year, and it’s a HUGE mistake. First, debit cards don’t have the same fraud protections as credit cards. Once your money is gone, it’s gone. But more importantly you can actually get something back from this spending every time you swipe.

Issuers are handing out wild bonuses right now. With some you can earn up to 5% back on every purchase. That’s like getting a 5% discount on everything you buy!

Our top pick is kind of hard to imagine. Not only does it pay up to 5% back, it also includes a $200 cash back reward in the first six months, a 0% intro APR, and…. $0 annual fee. It’s quite literally free money for any one that uses a card regularly. Click here to learn more!

Flywheel Publishing has partnered with CardRatings to provide coverage of credit card products. Flywheel Publishing and CardRatings may receive a commission from card issuers.