The European business of Japanese carmaker Toyota will be lossmaking in the first half but it still aims to be profitable at the operating level for the full year, the company said today.
"In the first quarter 2011 we posted a profit, but Japan's (earthquake) disaster has cost us hundreds of millions of euros, so we will thus lose money in the first half," Toyota Europe president Didier Leroy told it told French paper La Tribune.
"But for the whole of 2011, the goal is to return to operating profit in Europe. Though I cannot guarantee that today," he added in the interview published today.
The carmaker is also investing €125 million to produce the small Yaris III car model in Valenciennes, northern France, Mr Leroy said.
Reuters