TOKYO (AP) — Toyota doubled its net profit in the fiscal year that ended in March, as strong vehicles sales and a favorable exchange rate lifted results for Japan’s top automaker.
Toyota Motor Corp.'s annual profit totaled 4.9 trillion yen ($31.9 billion), up from 2.45 trillion yen the year before, while its sales jumped 21% to 45 trillion yen ($290 billion), the company said Wednesday.
The results exceeded Toyota’s own projection for a 4.5 trillion yen ($29 billion) profit, as its global sales surged to 9.4 million vehicles from 8.8 million vehicles in the previous fiscal year.
Sales of hybrids performed well, although Toyota stressed it was working hard to offer various kinds of electric vehicles, including battery EVs, plug-ins and fuel cell models.
A weak yen worked as a big plus for Toyota, which makes the Camry sedan, Prius hybrid and Lexus luxury models. The U.S. dollar cost an average of 145 Japanese yen during the last fiscal year, up from 135 yen in the year before, according to Toyota.
Related articles:
Related suggestion:
Muhammad Ali's 'Thrilla in Manila' trunks expected to sell for $10mNational expected to instill need for discipline at caucus retreatFoodstuffs recalls pre24% rates hikes proposed for NapierCoronavirus: China to temporarily ban foreign nationals from entering in bid to reduce COVIDPlanes collide at Heathrow, no one hurtHong Kong protest: Government uses social distancing to block demonstratorsProtests over government's plans to repeal Smokefree legislation in Auckland and at ParliamentKnife attack at China school injures dozensANZ Premiership Netball: Can anyone knock over the Mystics?
2.1791s , 6491.3203125 kb
Copyright © 2024 Powered by Toyota racks up booming profit, vows to invest to keep growth going ,World Walkthrough news portal