Despite winning in NASCAR Toyota expects profits to plunge

Rounding out a bleak earnings season for automakers, Toyota Motor Corp. is expected to report a steep drop in quarterly profits Thursday because of slumping U.S. auto sales, this despite winning on a regular basis in NASCAR. Win on Sunday, sell on Monday certainly does not apply anymore.

Unfavorable currency trends also weighed on the Japanese automaker, according to analysts who forecast its operating earnings may be down more than 40 percent for the three months to June 30.