No Excuses: Toyota Pumps Up The Profits By 3% In First Quarter

Toyota Motor Corp.’s operating profit edged ahead 2.8 percent in the latest fiscal year on rising sales, tighter cost control and lower incentives in the crucial U.S. market.

Operating profit increased to 2.40 trillion yen ($21.66 billion) in the carmaker’s fiscal full year ended March 31, Toyota said on Wednesday.

Net income, by contrast, declined 25 percent to 1.88 trillion yen ($16.96 billion).

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Truthy - 5/8/2019 10:25:28 AM

+5 Boost

What?!? How is this possible when all the Tesla fanboys are saying the ICE will be gone in 5 years?

SanJoseDriver - 5/8/2019 1:36:36 PM

-4 Boost

Toyota was the first to bring hybrids to market and one of the first with hydrogen. They are stuck in the same catch 22 situation as other legacy manufacturers... do they release new EV tech and cannibalize their other products or squeeze every last bit of margin from ICE before switching over. It will happen, they will switch. I wouldn't expect much investment in new ICE powertrains.

CANADIANCOMMENTS - 5/8/2019 10:36:34 AM

+2 Boost

A) That is a lot of Yen. B) Toyota is playing the longest of games... last man standing.

SanJoseDriver - 5/8/2019 1:34:42 PM

-3 Boost

It's also a slow ship to turn and the brand is not getting a good update with younger people, could be the next Lincoln in 10-20 years.

CANADIANCOMMENTS - 5/8/2019 2:03:03 PM

+2 Boost

@SJD- Although it may seem that way, across their global business Toyota is doing quite well. $17B in net income is nothing to sneeze at. And with customers happy to line up and put their money down on "mature" platforms like the 4Runner which continues to set sales records, they will squeeze as much profit as they can out of their ICE platforms until it comes time to make them all hybrids or BEV's.

SanJoseDriver - 5/12/2019 3:00:59 AM

+1 Boost

Agree they will milk ICE for all they can, which unfortunately will delay innovation for them. It will be interesting to see what happens to their sales in the next few years.