Automotive is radio's biggest ad category and extreme weather was a major reason radio revenue was down in Q2. Now Toyota has come out and said extreme weather has taken another toll on automotive sales. Reports in Reuters, Bloomberg and Automotive Age say recent Thai floods are wreaking havoc on Toyota. The company posted a 32 percent drop in quarterly operating profit and withdrew its full-year profit forecasts.
Toyota announced yesterday that its operating profit for July-September was 75.39 billion yen ($966 million). Second-quarter net profit was 80.42 billion yen, down 18.5 percent, while revenue fell 5 percent to 4.57 trillion yen. The Thai floods forced Toyota to stop work at its three Southeast Asia plants until November 12th. The company is also having a probelm getting parts. The Thai disaster has cost Toyota about 150,000 units of lost production. Toyota had just started to gain traction to make up for output lost after the March 11 disasters.
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