Toyota racks up booming profit, vows to invest to keep growth going
Time:2024-05-09 01:18:33 Source:entertainmentViews(143)
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.
Previous:Cliffs that sport mystical tattoos
Next:Matt Damon and wife Luciana Barroso glam it up for the 2024 Met Gala
You may also like
- Cambodia welcomes 1st Chinese flight, tourists to Siem Reap
- What you need to know about investing in a VCT and the 30% tax break
- Tale of the state pension underpaid for 20 YEARS: This is Money podcast
- The perfect introduction to Wainwright's Lake District world
- Worker killed, another injured, when truck crashes through guardrail along California freeway
- I'm a travel writer
- HKFP Lens: Hong Kong press group announces winners of annual news photo contest
- China's Xi Jinping delivers unexpected speech at UN hours after US President Joe Biden speaks
- Zendaya pulls out all the stops in THREE edgy ensembles