Net profit at Toyota Motor rose over 30% in the latest financial year thanks to strong sales in Japan and the United States, Associated Press (AP) reported.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
Toyota today announced a 615.8 billion yen ($US4.8 billion) profit for the financial year ending in March, up from 471 billion yen a year ago, AP said. Sales of 15 trillion yen ($118 billion) were the company’s best ever and up 12% from 13 trillion yen the previous year, the news agency added.
AP said that the favourable exchange rate added 410 billion yen ($3.2 billion) to Toyota’s earnings while cost reduction efforts saved an extra 260 billion yen ($2 billion).
Toyota sold 5.78 million vehicles in fiscal 2001, up from 5.52 million in 2000, AP said. Japanese sales rose nearly 5% to 10.5 trillion yen ($82 billion) while sales in North America rose 17.5% to 5.8 trillion yen ($46 billion), AP added.
European improved 52% to 1.6 trillion yen ($12.6 billion) but Toyota has yet to make a profit in the region, AP said.
Toyota produced 1.37 million cars overseas in fiscal 2001, AP said, up nearly 17% from 1.18 million the previous year.
Japanese production fell almost 2% to 4.03 million vehicles from 4.1 million, AP added.
