2023 Author: Eric Donovan | [email protected]. Last modified: 2023-05-21 15:44
Toyota closed the third fiscal quarter with new records. The Japanese carmaker benefited above all from good foreign demand.
The leading Japanese car maker Toyota is well on its way thanks to robust foreign demand: In the third quarter of the financial year, the world's most profitable car company posted record results in terms of earnings and sales. As the company announced on Tuesday, net profit rose 7.5 percent between October and December to 458.6 billion yen (2.9 billion euros) and operating profit rose 4.7 percent to 601.5 billion yen. Sales increased 9.2 percent to 6.7 trillion yen.
Targeting higher sales
For the full year running until March 31, 2008, Japan’s industry leader, who is in a neck-and-neck race with US rival General Motors (GM) for the title of the world's top-selling car manufacturer, is sticking to its earnings expectations. Accordingly, the group, which also includes the small car manufacturer Daihatsu Motor and the truck manufacturer Hino Motors, is likely to generate 6.5 percent higher sales of 25.5 trillion yen than in the previous year. Operating profit is expected to rise 2.7 percent to 2.3 trillion yen and net income by 3.4 percent to 1.7 trillion yen. (dpa)