Toyota First Quarter Losses Higher Than GM

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Toyota forecasts a much bigger-than-expected $8.6 billion loss for the current fiscal year and sell one million fewer vehicles. Bigger news? They blew through $7.6 billion during 2009's first quarter! That's more than GM lost!

That's some pretty big news — especially considering GM dropped $6 billion during the first quarter. Jeez, if only Toyota were building some fuel-efficient, dependable appliance-type vehicles, right? [Reuters, WSJ]