S&P: Toyota still flush with cash reserves

Jeremy Korzeniewski — Sun, 23 Jan 2011 11:44:00 EST

Filed under: Toyota, Earnings/Financials

Record fines from the National Highway Traffic Safety Administration, pending litigation from a number of private individuals and insurance agencies and the largest recall in its history haven't managed to impact Toyota's bottom line all that badly. According to the Standard & Poor's Valuation and Risk Strategies group, Toyota still has the most cash reserves of any automaker in the world. The total? Well over $48 billion.

In fact, Toyota is listed as having the second largest-cash pile of all companies, regardless of what market they play in, though Apple would push Toyota to third if S&P counted the tech giant's money differently. Other automakers with lots of dough on hand include Volkswagen (seventh), General Motors (eighth) and Ford (thirteenth). For what it's worth, General Electric tops the list with enough coin to keep Scrooge McDuck busy for days.

[Source: The Wall Street Journal]

S&P: Toyota still flush with cash reserves originally appeared on Autoblog on Sun, 23 Jan 2011 11:44:00 EST. Please see our terms for use of feeds.

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Toyota reportedly down to $18.5 billion in cash

Sam Abuelsamid — Mon, 26 Jan 2009 15:40:00 EST

Filed under: Toyota, Earnings/Financials

The cash burn rate through 2008 at General Motors, Chrysler and, to a lesser degree, Ford, has been one of the big new stories in the auto business. After a disastrous third quarter, GM was down to about $11 billion and, along with Chrysler, was in danger of having insufficient cash on hand to pay bills at the end of the year.

Meanwhile, Toyota has been raking in the profits for ages now and was thought to have up to $90 billion in reserves as recently as a couple of years ago. The other day, however, John McElroy reported that Toyota may be down to only $18.5 billion in cash with rapidly spiraling debts.

The company has spent heavily on new factories and new products in the U.S. in recent years, but saw its sales plummet as much as the domestics in the second half of 2008. Its total current short-term liabilities are now roughly equal to its total current assets, and its cash reserves put the company on par with Ford. In recent months, Toyota has been moving aggressively to cut costs and budgets have been slashed company wide. The automaker famous for avoiding layoffs was also reportedly considering shedding some jobs in the U.S. and UK, but had denied those reports are true.

[Source: Autoline Detroit]

Toyota reportedly down to $18.5 billion in cash originally appeared on Autoblog on Mon, 26 Jan 2009 15:40:00 EST. Please see our terms for use of feeds.

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