Toyota racks up booming profit, vows to invest to keep growth going
Wednesday, 8 May 2024 ()
Toyota has reported that its profit for the fiscal year that ended in March doubled over a year earlier, as strong vehicles sales and a favorable exchange rate lifted results for Japanβs top automaker. Toyota said Wednesday that its profit in the last fiscal year totaled 4.9 trillion yen, or $31.9 billion, while sales jumped 21%. Global sales surged to 9.4 million vehicles from 8.8 million vehicles in the year before. Hybrid sales were especially strong. A weak yen worked as a big plus for the maker of the Camry sedan, Prius hybrid and Lexus luxury models. Toyota expects to sell 9.5 million vehicles in this fiscal year.
Toyota has reported that its profit for the fiscal year that ended in March doubled over a year earlier, as strong vehicles sales and a favorable exchange rate lifted results for Japanβs top automaker. Toyota said Wednesday that its profit in the last fiscal year totaled 4.9 trillion yen, or $31.9 billion, while sales jumped 21%. Global sales surged to 9.4 million vehicles from 8.8 million vehicles in the year before. Hybrid sales were especially strong. A weak yen worked as a big plus for the maker of the Camry sedan, Prius hybrid and Lexus luxury models. Toyota expects to sell 9.5 million vehicles in this fiscal year.
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