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JAPAN: Toyota boosts Q3 operating and net profit results

By just-auto.com editorial team | 3 February 2005

Toyota Motor Corporation has boosted operating income 5.3% to 422.9 billion yen for the three months ended December 31, 2004, while net income was 296.5 billion yen ($2.85 billion; £1.51 billion), up 3.5%.

Net revenues for the third quarter totalled 4.64 trillion yen, up 5.9%.

"During the third quarter, we exceeded our calendar-year sales targets in every region," said TMC executive vice president Ryuji Araki.

"At the same time, we were able to offset the negative effects of currency fluctuations and other factors by implementing initiatives aimed at further growth, including cost reduction and improved operational efforts."

In Japan, sales reached 573,000 vehicles, an increase of 19,000 units, or 3.5%, compared to last fiscal year's third quarter, supported by the introduction of new models such as the Isis and Mark X. On a calendar year basis, market share of Toyota-brand vehicles (excluding minivehicles) was 44.4%, a record high.

In North America, sales of Toyota, Lexus and Scion vehicles continue to be strong, as third quarter consolidated sales increased by 15,000 units, or 2.6%, to 576,000 vehicles.

In the US, retail sales reached 2.06 million vehicles during the 2004 calendar year, exceeding Toyota's U.S. sales target and reaching a highest-ever US market share of 12.2%.

Third quarter consolidated sales in Europe reached 249,000 vehicles, up 31,000 vehicles, or 14.3%.

TMC has revised upwards its consolidated vehicle sales forecast for the current fiscal year by 70,000 to 7.29 million vehicles.