"TOKYO (AP) -- Toyota sank into the red for the October-December quarter and acknowledged Friday it was heading for its first annual net loss since 1950 because of plunging global automobile sales and the strong yen. Kinoshita promised that the company will turn itself around through cost cuts and reshaping its business by coming up new products to meet global demand. He said Toyota continues to be committed to developing gas-electric hybrids as a pillar of its growth strategy.
He pointed to the third-generation Prius, set to arrive at dealerships in May, as well as the HS250h, the first Lexus model designed solely as a hybrid, scheduled for sale midyear, as models symbolizing Toyota's future." Read it all,