It trimmed its fiscal year forecast for group vehicle sales, including those of subsidiaries Daihatsu Motor and Hino Motors, to 11.23 million units, compared with the previous forecast of 11.38 million units. Toyota expects fiscal-year revenue will increase 17% to Y43.500 trillion, compared with its previous forecast of a 16% rise, as it projects a weaker yen. Shares of the company were recently 4.6% higher at Y3,129, putting it on track to close at a new record high. The world's largest carmaker set a new sales record in 2023 as it recovered from a pandemic-driven slump and a global chip shortage. It sold 11.2 million vehicles globally last year, beating its previous high of 10.7 million units in 2019.

Source: Wall Street Journal February 06, 2024 11:47 UTC