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:
The Fed indicated rates will remain higher for longer. What does that mean for you?Demi Moore, 61, proves she's still got it as she displays her stunning figure in leopardUS college protests: Over 2,000 arrested during proKris Jenner launches eerily uncanny Christmas ornament of herself for $82Rosie HuntingtonAlabama lawmakers vote to create new high school focused on healthcare, scienceAlabama court authorizes second nitrogen executionChina's ecological environment improves steadily in Q1How major US stock indexes fared Thursday, 5/2/2024Sharon Stone is SUED for $35,000 for 'causing car crash' in Los Angeles
3.188s , 6497.8359375 kb
Copyright © 2024 Powered by Toyota racks up booming profit, vows to invest to keep growth going ,Worldly Workshop news portal