Toyota Motor Corp reported Friday a quarterly profit of 470.5 billion yen (US$4.5 billion), down from 530 billion yen a year ago. Quarterly sales slipped to 6.77 trillion yen (US$65 billion) from 7.64 trillion yen. Toyota raised its global sales forecast to 9.4 million vehicles for the fiscal year through March 2021, better than its earlier forecast for 9.1 million vehicles. Toyota, based in Toyota city in Aichi, central Japan, said it expects to record a 1.4 trillion yen (US$13.5 billion) profit for the fiscal year. Toyota, which makes Lexus luxury models and the Prius hybrid, recorded 2 trillion yen (US$19 billion) in profit the previous fiscal year.

Source: The Standard November 06, 2020 05:15 UTC