2011 has been a trying year for Toyota, as the earthquake and tsunami in Japan and the flooding in Thailand have conspired to slow vehicle production and cut into profits. Toyota lowered its profit forecast after the Japan disaster, and now Automotive News reports that the automaker is once again cutting expected profits by a significant margin. Toyota has cut its forecast by 54 percent to reflect manufacturing issues resulting from the Thailand floods. The company is now expecting to make $2.3 billion in the fiscal year ending March 31.
Autoblog, Toyota sharply lowers profit forecast in wake of Thai floods
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