Mexican Media Brands
Toyota’s Net Profit Plummets 81%
Toyota Motor Corp.’s net profit for the fiscal third quarter ended Dec. 31 plunged 81% to 181 billion yen ($1.6 billion), largely because last year’s results were boosted by a one-time tax cut in the U.S.
#economics
Share
Toyota Motor Corp.’s net profit for the fiscal third quarter ended Dec. 31 plunged 81% to 181 billion yen ($1.6 billion), largely because last year’s results were boosted by a one-time tax cut in the U.S.
Operating income for the period advanced by a microscopic 2.5 billion yen ($23 million) to 676 billion yen ($6.1 billion).
Toyota’s unit sales (including Daihatsu minicars and Hino commercial trucks) were flat at 2.28 million vehicles. But revenue grew 3% to 7.8 trillion yen ($71.1 billion).
By major sales regions, demand in October-December rose in Japan (+2% to 565,000 units) and Asia (+15% to 464,000). But volumes fell in North America (-7% to 680,000 units), Europe (-2% to 232,000) and Central/South America (-3% to 114,000).
Toyota, citing cooling markets in China and the U.S., slashed its forecast for full fiscal year net profit. The carmaker now expects to net 1.9 trillion yen ($17.3 billion), compared with the 2.3 trillion yen it predicted in November.
RELATED CONTENT
-
On Urban Transport, the Jeep Grand Wagoneer, Lamborghini and more
Why electric pods may be the future of urban transport, the amazing Jeep Grand Wagoneer, Lamborghini is a green pioneer, LMC on capacity utilization, an aluminum study gives the nod to. . .aluminum, and why McLaren is working with TUMI.
-
On Global EV Sales, Lean and the Supply Chain & Dealing With Snow
The distribution of EVs and potential implications, why lean still matters even with supply chain issues, where there are the most industrial robots, a potential coming shortage that isn’t a microprocessor, mapping tech and obscured signs, and a look at the future
-
Mazda, CARB and PSA North America: Car Talk
The Center for Automotive Research (CAR) Management Briefing Seminars, an annual event, was held last week in Traverse City, Michigan.