Toyota reports loss

Toyota Motor, the world’s largest vehicle manufacturer, has reported a loss of $7.7bn for the first three months of this year, its worst result ever.The Japanese company’s latest fiscal results are a dramatic turnaround after it made a record profit of 2.27 trillion yen last year.It warned on Friday that its net loss would deepen throughout the year because of the global slump in sales, which have fallen 15 per cent over the past year.Toyota’s anticipated loss is bigger than analysts predicted.