Toyota has reported quarterly operating profit for the quarter ended September 30 (FYQ2) up 14% to 662.385bn yen, exceeding analyst forecasts.
It sold 2.75m vehicles globally, up from 2.18m in the year earlier period.
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For the six month period (FYH1), consolidated vehicle sales for the six-month period ended September 30 totalled 4,638,565 units, an increase of 219,637 units compared to the same period last fiscal year.
On a consolidated basis, net revenues for the first half period totalled 15.2855 trillion yen, an increase of 4.2%, while operating income increased from 1,261.8bn yen to 1,404.3bn yen – with margin up to 9.2% from 8.6%.
In North America, first half vehicle sales totalled 1,445,662 units, an increase of 34,416 units and operating income for the region was up by a hefty 85.3bn yen to 222.6bn yen. Sales in Japan were up by 109,000 to 1.14m units.
For the fiscal year ending March 31, 2020, TMC has revised its consolidated vehicle sales forecast from 9.00m units to 8.95m units.
Commenting on the forecast, TMC Operating Officer Kenta Kon said: "Currently, we are in a phase of transforming ourselves to a mobility company and proactively undertaking investments for the future and creating friends . Furthermore, in order to have a corporate structure that can promote such transformation, we are striving to pursue TPS and refining costs at all levels, with all members of Toyota united."
