Toyota outsold General Motors and all other carmakers for the second time in three quarters, in the latest example of how Japan's largest manufacturers are benefiting from Abenomics.Toyota and its subsidiaries sold 2.5 million vehicles in the July-to-September period, up 2.8 percent from a year earlier, according to figures released today by Toyota. Third-quarter sales at GM, reported earlier this month, rose 5.5 percent to 2.4 million vehicles while Volkswagen boosted deliveries, excluding heavy trucks, to about 2.33 million, according to data from the companies.
Toyota's recent success -- analysts estimate it will post record profit this fiscal year -- illustrates how Prime Minister Shinzo Abe's policies that have weakened the yen are benefiting Japan's exporters and helping revive an economy that's been through three recessions in five years. Large manufacturers are more confident than they've been since 2007, and share prices are near the highest in half a decade.
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