Article: TOYOTA PROFITS TUMBLE 28 PERCENT AUTOMAKER ALSO EXPECTS FULL-YEAR PROFITS WILL FALL

On Thursday, Toyota said its fiscal first-quarter profits plummeted 28 percent, and the automaker stuck to its forecast that its full-year profits will fall for the first time in seven years as it faces more troubles from the weakening U.S. market.

Toyota Motor Corp., which had been riding on the success of its fuel-efficient cars, has consistently posted growing profit since it started reporting under U.S. accounting standards. And there's no previous comparable data that show its annual profits have ever fallen.

But sliding North American sales, a strong yen and rising material costs have battered the earnings of the Japanese automaker, which is on track to end General Motors Corp.'s ...

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