S&P: Toyota still flush with cash reserves
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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