Toyota Profits Rebound Driven By Strong Demand

Toyota Motor Corp. is on track to recapture its No. 1 global rankingafter raisingits annual sales targetFriday to a record 9.76 million vehicles and reporting astrong recovery in quarterly profit from last year, when Japan was struck by natural disasters.

Toyota'snet profit for the April-June quarter surgedto 290.3 billion yen, or $3.7 billion,from 1.1 billion yen, or $12.5 million, a year earlier, on a 60 percent rebound in revenue.

"In all regions, vehicle sales increased significantly due to strong recovery of demand, which had suffered last year from the lack of supply caused by the great east Japan earthquake," said ToyotaSenior Managing Officer Takahiko Ijichi.

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lexworld - 8/3/2012 12:00:16 PM

+1 Boost

...Yep I'm sure of it(quote from Val Kilmer in the movie Tombstone). Mr. Akio Toyoda is the Gabby Douglas of the Automotive Industry. You aint seen nothing yet!

HughJass - 8/3/2012 12:40:25 PM

+1 Boost

Profits would be even higher if the Japanese Yen wasn't so over valued thanks to speculators and their competition from China/S.Korea who recently announced "intervention" may be needed to boost exports.

I read in Bloomberg yesterday that the Yen appreciated 6% vs the US dollar over the last 3 months. That's crazy if you're an export dependent country.

nguyenvuminh - 8/3/2012 10:12:32 PM

+1 Boost

009 - for a company that is getting its ass kicked by Hyundai and Kia, Toyota is doing pretty well wouldn't you say? And that's with the perennial jabbing by the great 009 too :-)