In the first quarter of the fiscal year, the Japanese car manufacturer Toyota increased revenues by 12.2 percent and net profit by 1.7 percent.
As reported by the French news agency AFP, the company explained that they were faced with a drop in sales on the domestic market, but the weaker yen and the reduction of costs were to their advantage.
Toyota’s revenue reached 11,800 billion yen (78.5 billion dollars, or 72.5 billion euros), and net profit 1,330 billion yen (8.85 billion dollars, or 8.17 billion euros).
The management of the largest car manufacturer in the world by the number of vehicles sold announces that it is keeping its forecast unchanged for the entire business year. “Despite the impossibility of maintaining stable production in Japan due to factors such as certification issues and recalls, we increased profits,” Toyota emphasized.
Toyota is a pioneer in the field of hybrid vehicles, but critics say it is too slow to introduce fully electric vehicles. The company’s management has set a goal of selling 1.5 million fully electric vehicles per year by 2026 and 3.5 million per year by 2030.
Source: Seebiz.eu / AFP
Photo: Archive Autoblog.rs / Toyota
Source: autoblog.rs
