Toyota warned of losses of $4.2 billion due to the war in the Middle East

The Japanese carmaker Toyota is preparing for losses of $ 4.2 billion due to higher prices for components caused by the Middle East conflict. This was reported on May 8 by the Financial Times newspaper.

"Toyota has stated that the conflict in the Middle East will cost it 670 billion yen ($4.2 billion) due to higher prices for components and loss of sales, becoming another automaker openly demonstrating the difficulties caused by this situation," the material says.

The company said that a sharp rise in prices for aluminum and rubber tires, as well as lower sales, will lead to a 22% decrease in net profit to 3 trillion yen.

The news is being updated