Tuesday , July 27 2021

Toyota records increased profits through better sales and cutting costs

Japanese car maker Toyota Motor Corp said today that a 28 percent increase was achieved in the last quarter due to increased sales in Europe, Asia and two Americas.

With July-September data, Toyota has increased its expected earnings throughout the year, Beta reported, according to Associated Press.

The largest Japanese car maker said it had a profit of $ 585.1 billion ($ 5.2 billion) in the third quarter, a decrease of 458.3 billion yen a year ago.

Sales rose by two percent to 7.3 trillion yen ($ 64.7 billion).

Toyota predicts $ 2.3 billion ($ 20 billion) in the fiscal year to March, while 2.1 billion yen ($ 19 billion) is anticipated earlier.

It was a drop of nearly eight percent, with almost 2.5 billion billion yen, which was a gain in the previous fiscal year.

Sales of Toyota vehicles fell to the US and Japan, but improved in Europe, the rest of Asia, and Central and South America.

Cost reduction and marketing helped in the last quarter, while the unfavorable rate had a negative impact on profit, Toyota said.

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