Tokyo
Toyota said Wednesday that net profit soared 50 percent in the third quarter and upgraded its full-year forecasts as the global auto industry gradually recovers from the coronavirus pandemic.
The world’s top carmaker said it made 838.7 billion yen ($8.0 billion) in the three months to December, compared with 559.3 billion yen a year earlier, and revised up full-year forecasts for the second straight quarter.
Net profit was at 1.90 trillion yen for the fiscal year to March, compared with its earlier estimate of 1.42 trillion yen.
Sales are now seen at 26.5 trillion yen, compared with the 26.0 trillion yen previously forecast. The firm last year overtook Volkswagen as the world’s top carmaker for the first time in five years. Analysts said it was bouncing back quicker than competitors from the effects of the global economic crisis caused by the pandemic. —AFP
