The COVID-19 pandemic and global semiconductor shortage that have crippled some carmakers proved to be no obstacle for Toyota, which announced record profits for the year to March 31.
Toyota’s annual profit climbed 36 percent to a staggering 3 trillion yen ($24.61 billion), and revenue swelled 15 percent to 31.38 trillion yen ($257.42 billion), the profit figure becoming the company’s best yet, surpassing the previous record of 2.3 trillion set in 2016. Global sales also increased in the same period, climbing 7.6 percent to 8.23 million vehicles, that number including sales of Toyota’s subsidiaries, including Lexus.
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