Toyota’s profit in the latest quarter jumped nearly threefold from a year ago as vehicle sales grew around the world and a cheap yen boosted the Japanese automaker’s overseas earnings. Toyota reported Wednesday 1.28 trillion yen, or $8.5 billion, in quarterly profit, up from 434 billion yen the previous year. Quarterly sales rose 24%.
FILE - A Toyota logo is shown at the North American International Auto Show in Detroit, on Sept. 13, 2023. Toyota’s July-September profit jumped nearly threefold from a year ago as vehicle sales grew around the world and a cheap yen boosted the Japanese automaker’s overseas earnings. TOKYO — Toyota’s July-September profit jumped nearly threefold from a year ago as vehicle sales grew around the world and a cheap yen boosted the Japanese automaker’s overseas earnings.
The manufacturer of the Camry sedan, Prius hybrid and Lexus luxury models raised its profit forecast for the fiscal year through March 2024 to 3.95 trillion yen , up from the previous projection of 2.5 trillion yen. Toyota kept unchanged its forecast of selling 11.38 million vehicles for the full fiscal year worldwide.
The new investment is expected to create 3,000 additional jobs, to a total of more than 5,000 jobs when its first U.S. automotive battery plant begins operations near Greensboro in 2025.
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