Japan Manipulation Of Yen Leads To Doubling Of Toyota Profits

Toyota Motor Corp. said its profit for the first quarter of the fiscal year nearly doubled from a year ago, and set an ambitious, worldwide production goal that would break industry records if reached.

The Tokyo-based maker of the Prius hybrid and Camry sedan said profit for the April-June quarter rose to 562.1 billion yen ($5.6 billion) after getting a big boost from a weak yen.

The company also set a worldwide production goal for the 2013 calendar year at 10.1 million vehicles, which would be an industry record, while it stuck to its global vehicle sales goal for the year at 9.96 million vehicles. That puts it in a neck-and-neck race with U.S. rival General Motors Co. for the crown of world’s top automaker.

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thetruth01 - 8/2/2013 8:51:22 PM

+2 Boost

And who was to blame for the unfavorable exchange rate the Japanese experienced in the last several years? Agent 00Whine comes across as a bigger whiner and Detroit apologist than even the Detroit news, who just merely states that some in Detroit think their is something unfair about the current rate. 00Whine puts on the flame baiting headline. What a joke. Good thing no one actually reads this crap.
http://blog.us.cision.com/2013/08/top-50-auto-blogs/