TOKYO (AP) — Toyota doubled its net profit in the fiscal year that ended in March, as strong vehicles sales and a favorable exchange rate lifted results for Japan’s top automaker.
Toyota Motor Corp.'s annual profit totaled 4.9 trillion yen ($31.9 billion), up from 2.45 trillion yen the year before, while its sales jumped 21% to 45 trillion yen ($290 billion), the company said Wednesday.
The results exceeded Toyota’s own projection for a 4.5 trillion yen ($29 billion) profit, as its global sales surged to 9.4 million vehicles from 8.8 million vehicles in the previous fiscal year.
Sales of hybrids performed well, although Toyota stressed it was working hard to offer various kinds of electric vehicles, including battery EVs, plug-ins and fuel cell models.
A weak yen worked as a big plus for Toyota, which makes the Camry sedan, Prius hybrid and Lexus luxury models. The U.S. dollar cost an average of 145 Japanese yen during the last fiscal year, up from 135 yen in the year before, according to Toyota.
Bayern without fans against Arsenal, Dortmund facing knockout monsters Atletico
No charges yet in weekend crash that killed 2 siblings at Michigan birthday party
Supreme Court denies request by Arizona candidates seeking to ban electronic vote tabulators
Maui officials push back on some details in Hawaii attorney general report on deadly wildfire
Reigning champions Liaoning on verge of playoff exit
Brit, 22, plunges to his death from fifth
California legislators prepare to vote on a crackdown on utility spending
A new report says Mexico has abandoned protection of loggerhead sea turtles
Andy Ibáñez homers twice, Ryan Vilade gets first MLB hit, RBIs as Tigers outslug Guardians 11
Welcome to Britain's strictest estate: How neighbours have to follow a 32
The Eurovision Song Contest is kicking off with pop and protests as the war in Gaza casts a shadow
A new report says Mexico has abandoned protection of loggerhead sea turtles