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:
Government departments defend staffing increase in late 2023Dozens of jobs set to be axed at Commerce CommissionWest Coast meat processor admits water quality failureWorkSafe interim chief executive Steve Haszard resigns months into jobTens of thousands turn out for King Frederik's successionNew operators of Tūroa Ski Field reveal discounts for former lifeWellington job market already tough before public sector redundanciesLisa Rinna, 60, and Amelia Gray Hamlin, 22, share motherHow the New Zealand Falcons are tackling stigma against LGBTTQIA+ people in sportsFree school lunches: Studies show better attendance, improved alertness
3.1489s , 6605.5625 kb
Copyright © 2024 Powered by Toyota racks up booming profit, vows to invest to keep growth going ,Culture Connection news portal