TOKYO (Reuters) – Toyota Motor Corp’s quarterly operating profit edged up as continued increase in sales in Asia, including China, offset lower sales in North America, its biggest market.
Japan’s largest automaker lowered its full-year net profit forecast to 1.87 trillion yen ($17 billion) from a previous view of 2.3 trillion yen, citing unrealized losses on some of its equity investments, but reiterated its annual operating profit projection of 2.4 trillion yen.
October-December - Quarter - Toyota - Operating - Profit
For the October-December quarter, Toyota posted an operating profit of 676.1 billion yen, up 0.4 percent from 673.64 billion yen in the same period a year earlier. This missed an average estimate of 680.84 billion from 10 analysts polled by Refinitiv.
Its global retail sales rose 2.8 percent to 2.71 million units in the quarter from 2.63 million units a year earlier, driven by a climb in sales to 464,000 units in Asia including China, from 404,000 during the same period last year.
Sales - North - America - Percent - Toyota
Sales in North America, which accounts for nearly 30 percent of Toyota’s annual vehicle sales, came in at 680,000 during the quarter, from 735,000 a year before. Overall demand for cars in the region has stagnated over the past two years.
China, however, has been a bright spot for Toyota, partly due...
Wake Up To Breaking News!
I love to post, but I never read the article!