Toyota profits up 23% on high US sales, despite mounting legal costs

Toyota profits up 23% on high US sales, despite mounting legal costs

February 6, 2013 by · Leave a Comment 

Filed under: Japan , Lexus , Scion , Toyota , Earnings/Financials Toyota earned $9.3 billion in net income in the financial year that ends next month. The number beats earlier forecasts and marks a five-year high for the automaker, with both operating income and revenue up by 9.5 percent and 2.5 percent, respectively. Toyota saw quarterly profit enjoy a year-on-year jump of 23.4 percent, with the manufacturer earning more than $1 billion between October and December 2012. The good news comes in spite of the fact that the Japanese automaker actually endured an operating loss in North America, due in part to legal fees. Toyota is set to pay more than $1 billion to owners who claim their vehicles decreased in value as a result of the company’s recent spate of recalls. Even so, all three of the automaker’s brands enjoyed a 13.5 percent sales increase in the US in the last quarter, beating the industry average. Toyota faltered in Europe, however, where it earned $99 million in operating profit last year, compared to $111 million in 2011. You can take a closer look at the company’s full press release below for more information. Continue reading Toyota profits up 23% on high US sales, despite mounting legal costs Toyota profits up 23% on high US sales, despite mounting legal costs originally appeared on Autoblog on Tue, 05 Feb 2013 18:01:00 EST. Please see our terms for use of feeds .

Toyota sales surge by 45% in Q3, global forecast raised

Toyota sales surge by 45% in Q3, global forecast raised

November 6, 2012 by · Leave a Comment 

Filed under: Japan , Toyota , Earnings/Financials Automotive News reports Toyota saw a sizable jump in third-quarter North American sales and has adjusted its global forecast accordingly. All told, the Japanese automaker sold 598,000 units in North America during the last quarter, marking an increase of 45 percent over the same time period last year. As a result, operating profit in the region also increased to $807.1 million, though Toyota also credits much of that figure to additional output. The company stepped up North American production by 42 percent in the third quarter. Last year at this time, the automaker was still reeling from the earthquake and tsunami disasters that struck Japan that March, and with its supply lines crippled, Toyota was forced to cut back production. Like other Japanese automakers, Toyota has seen its sales in China plummet. Sales in the region fell off by some 49 percent in September compared to the same month a year prior due to anti-Japanese protests in the country. Toyota sales surge by 45% in Q3, global forecast raised originally appeared on Autoblog on Mon, 05 Nov 2012 13:59:00 EST. Please see our terms for use of feeds . Permalink

Toyota releases financial results, predicts profits will double in 2012

Toyota releases financial results, predicts profits will double in 2012

May 10, 2012 by · Leave a Comment 

Filed under: Toyota , Earnings/Financials Things are good again at Toyota , which reported a $1.5 billion profit for the quarter, wrapping up a fiscal year in which it made just $3.5 billion, according to Business Week . While Toyota saw sales growth in Europe, Africa, and its home market, North America was a weak point. Sales revenue for the fiscal year totaled $232 billion, down two percent, according to the report. Though the company still beat its forecast of $2.5 billion, the real excitement surrounds its projections for the next 12 months. As predicted by analysts , Toyota says it expects to make $9.5 billion in the year that extends through March of next year, showing that the automaker has fully recovered from the effects of last year’s tsunami , according to the report. Toyota releases financial results, predicts profits will double in 2012 originally appeared on Autoblog on Wed, 09 May 2012 18:30:00 EST. Please see our terms for use of feeds . Permalink

Toyota details plans for October sales growth

Toyota details plans for October sales growth

October 6, 2011 by · Leave a Comment 

Filed under: Toyota , Earnings/Financials Toyota saw another unfortunate month of sales in September. The automaker saw its sales figures fall by 18 percent compared to the same time last year, thanks largely to lower-than-average dealer inventory brought on by this year’s earthquake and tsunami disasters. Toyota sold 121,451 vehicles in the U.S. last month across its three brands. The company moved 147,162 vehicles during the month of September last year. Even so, the automaker says that October will show sales improvements, according to Automotive News . Bob Carter , group vice president of Toyota Motor Sales, said that right now, U.S. dealers have a 30-day supply of vehicles, and that inventory will continue to grow in the coming months. Carter also underscored the fact that his company would reverse a five-month trend of sales losses in October and once again post gains. That’s likely to be true given that the 2012 Toyota Camry and Camry Hybrid are likely to bring in buyers as well as the company’s Prius V .

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