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Toyota Beats Earnings Estimates on Strong Sales

Maker ups forecast for the rest of the fiscal year.

by on Nov.05, 2014

Toyota reports quarterly profits of $4.2 billion: an increase of 12.6%.

With its sales on track to remain number one in the industry, Toyota Motor Co. saw its worldwide net income jump 12.6% for the first half of the fiscal year, to $10.9 billion, while income for the July to September quarter rose to $4.2 billion, exceeding industry analysts’ expectations.

The maker credited several factors, including strong demand for its vehicles in most markets, though it did see some declines in the home Japanese market and some other parts of Asia. The weak yen also contributed to the maker’s performance during the second quarter of the year – as it did for Japanese rivals Nissan and Honda.

You've Earned It!

Toyota said it now anticipates net income for the full fiscal year ending next March 31 to reach $19.2 billion, though sales dip slightly. (more…)

Toyota Posts Strong Quarterly Results

Net income of 190 billion yen ($2.2 billion) comes from selling 419,000 more vehicles. Production, profit forecasts increased.

by on Aug.04, 2010

Challenges remain with currency value, the end of incentives in Japan, and a weak Europe.

Sales and profits increased strongly at Toyota Motor Corporation as the Japanese giant this morning posted a profit in its first quarter of fiscal year 2011. TMC had produced a large loss in the year earlier quarter.

Toyota made a 190.47 yen billion net profit in its quarter ended June 30, a turnaround from net loss of 77.82 billion yen in the same quarter a year earlier. This is Toyota’s highest quarterly net profit since Q2 of 2008.

On a consolidated basis, net revenues for the first quarter totaled 4,871.8 billion yen, an increase of 27.0% compared to the same period last fiscal year. Operating income increased from a loss of 194.9 billion yen to 211.6 billion yen, while income before income taxes and equity in earnings of affiliated companies was 263.0 billion yen. Operating income increased by 406.5 billion yen.

Toyota said major factors contributing to the increase include the effects of marketing efforts of 400 billion yen and cost reduction efforts of 50 billion yen. The finance unit also posted strong profits as residual values increased.

Toyota said it expects to increase marketing expenses in the second quarter to increase volume. In the U.S. for example, Toyota vehicle sales decreased by 7%, even though the overall market increased 5% in August. North America remains Toyota’s largest market, followed by Japan.

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Toyota Predicts Higher Profits This Year

Lost sales due to the recalls amounted to about 50,000 vehicles.

by on May.11, 2010

"I am sincerely grateful to our customers of more than 7 million people around the world who newly purchased Toyota vehicles.”

Toyota Motor Corporation said this morning in a statement that profits will rise 48% this fiscal year, as it boosts sales in Asia and recovers from record numbers of recalls.

Toyota made a net profit of 112.2 billion yen ($1.2 billion) in its fiscal fourth quarter compared to a net loss of 765.8 billion yen in the same period a year earlier.

The world’s largest automaker predicts that global sales will increase to 7.29 million units, up 53 thousand units from fiscal year 2010, in what appears to be an extremely conservative forecast.

TMC President Akio Toyoda said, “I am sincerely grateful to our dealers and suppliers who remained fully committed to providing as many cars as possible to customers, and to our employees as well as our overseas business operations for their efforts in working together so that the company will return to its normal state as soon as possible. And finally, above all, I am sincerely grateful to our customers of more than 7 million people around the world who newly purchased Toyota vehicles.”

Subject to the usual caveats, Toyota said net income would rise to 310 billion yen ($3.35 billion) in the fiscal year ending in March, up from 209 billion yen a year earlier. Toyota forecast exchange rates of 90 yen to the dollar and 125 yen to the euro, compared with an average 93 yen against the dollar and 131 yen against the euro last fiscal year.

In the critical U.S. market, Toyota’s sales rose 24% in April as record incentives increased demand for its fuel efficient Corolla and Prius models among others, while ameliorating  the impact of recalls of more than 8 million vehicles worldwide unintended acceleration safety defects. This is good news for buyers, as sales incentives will likely continue for some time.

Toyota predicts that North American sales will increase only 1.5% this fiscal year to 2.13 million vehicles. Toyota’s U.S. sales dropped 20% in 2009, when industry wide sales slumped 21% to 10.4 million units, the lowest level since 1982. However, Toyota and Lexus sales in the U.S. have been surging since March, when it introduced widespread and extensive sales incentives.

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Toyota Feb Sales Drop 9%. Now in Third Place.

Recalls and snowstorms are among reasons for the decline.

by on Mar.02, 2010

Year to date, Toyota sales are off more than 12%.

Toyota Motor Sales (TMS), U.S.A., Inc., today reported February sales of 100,027 vehicles down 8.7% from the year-ago month, which itself was a bad month as the Great Recession increased its hold on global markets.

Overall, all the light vehicle market increased 13% during February compared to the year earlier.

Toyota is now number three in the U.S. market – behind General Motors and Ford Motor, which barely surpassed GM as number one. Calendar year to date, Toyota sales are off more than 12%, and the company is about to go on its largest marketing offensive in history.

The Toyota Division reported February sales of 86,240 units, a decrease of 10.6% from the same period last year.

The Lexus Division reported February sales of 13,787 units, an increase of 5.2 %.   (more…)

Toyota Sales Off 16% in January

Japanese maker, with quality and unintended acceleration problems, sees volume under 100,000 for first time since 1999.

by on Feb.02, 2010

One month does not a year make, but Camry dropped significantly.

Toyota Motor Sales said total January sales for all brands were 98,796 vehicles in total, a decrease of 9% compared with last January, on a daily selling rate basis.

It was the first time monthly sales were below 100,000 units since 1999.

On January 26, TMS suspended sales of the eight Toyota models involved in the accelerator pedal recall, impacting the Division’s January sales. The eight models represented more than 60% of Toyota inventory at the time.

In terms of volume cars, the Toyota Camry took the biggest hit – off about 5,000 units for the month.

This is the first month in our view where Toyota sales were clearly negatively affected by ongoing controversies over quality and unintended acceleration problems that attracted large media attention with the now infamous floor mat recall of  last fall.

Deadly floor mats were joined this January by the sticking pedal recall. Between both of them more than 5 million vehicles are involved in the U.S., and millions more are affected globally.  Repairs will take months, if not the balance of the year or longer,  to complete.

It is unclear if this is just a temporary decrease in Toyota sales or the beginning of longer trend. One month is too short a period in the current volatile environment. A better gauge will be quarterly data, which  will be available in early April.

Here are the absolute numbers at the current time. Chart follows.  (more…)

Toyota Posts Loss of $1.5 Billion for First Half

Vehicle sales dropped more than one million units. Full year loss of $4 billion predicted despite cost cutting and plant closings.

by on Nov.05, 2009

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Production cuts and revenue loss outrun efficiency measures.

Toyota Motor Corporation (TMC) today announced financial results for the six months ended September 30, 2009 in Tokyo. On a consolidated basis, the net revenues for the first half of the fiscal year totaled 8.378 trillion yen, ~$93 billion, a decrease of 31% compared to the same period last fiscal year.

Operating income decreased from 582.0 billion yen to a loss of 136.9 billion yen, ~$1.5 billion, while income before income taxes and equity in earnings of affiliated companies was a loss of 63.0 billion yen. Net income decreased from 493.4 billion yen to a loss of 56.0 billion yen or $620 million, which is a swing negative of more than $6 billion.

Operating income, compared to the same period last fiscal year, decreased by 718.9 billion yen or almost $8 billion. Major factors contributing to the decline include 910.0 billion yen due to the effects of sales volume and mix and 320.0 billion yen due to the appreciation of the Japanese yen against the U.S. dollar and the Euro, which overrode the positive impact of our reduction in fixed costs and cost reduction efforts,” the company said in a statement.

As part of its ongoing cost cutting to stem  the flow of red ink, Toyota announced it is withdrawing from Formula One Racing, following a withdrawal by Honda last year, and BMW this year.

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Toyota Output Drops 24% during first half of F.Y.

Good news, though, as overseas production increases slightly.

by on Oct.28, 2009

The Japanese automaking giant remains mired in the Great Recession.

The Japanese automaking giant remains mired in the Great Recession.

Toyota Motor Corporation (TMC) said in Tokyo this morning that its global production dropped more than 24% during the first half of its fiscal year, which ended in September 2009. Its export business from Japan is off 45%, which will put extreme pressure on financial results when they are announced next week.

Most analysts expect TMC to continue to report large losses for the near future.

However, sales for the Toyota brand in Japan during September increased for the second consecutive month. Sales of Lexus vehicles were 3,044 units, a 31.8% increase.

In Japan, Toyota now has a 44.4% share of market, excluding mini-vehicles, a 2.6% increase, and a record high for the month of September.

Domo!

Domo!

In a potential bright spot, TMC reported overseas production had its second consecutive month of increase, due to added production mainly in Asia and North America. Here, the strengthening Yen will cut into potential revenue from the increases, putting further pressure on profitability.

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Toyota Launches Highlander Production in Indiana

Compact sport utility is its 12th North American-built model.

by on Oct.13, 2009

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Production of the Tundra pickup, originally in Indiana, was consolidated last fall in Texas.

Production of the Toyota Highlander compact sport utility vehicle began this month at the company’s plant in Princeton, Indiana. The $450 million investment is part of the sweeping readjustments loss-making Toyota began last year in order to rationalize its manufacturing capacity in North America.

The abrupt change in direction came after the collapse of the full-size SUV and pickup truck markets left its aggressive business plan in tatters.

Toyota had bet — and ultimately lost — billions of dollars on a gamble that American truck buyers who favor Ford, General Motors and Dodge offerings, would defect to a Japanese product. That bet came just as record fuel prices eliminated trucks as and automotive fashion accessory for casual buyers.

Production of the Tundra pickup, originally in Indiana, was consolidated last fall in the brand new Tundra plant in San Antonio, Texas, which was originally developed with a planned capacity of 500,000 units annually.

The Tundra recorded September sales of only 6,308 units.

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Toyota Motor Production Declines 10% in August

Year-to-date output drops 35%.

by on Sep.28, 2009

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Exports are off 55% YTD.

Toyota Motor Corporation (TMC) announced its production, domestic sales and export results, including those for subsidiaries Daihatsu Motor Co., Ltd. and Hino Motors, Ltd., for August 2009 this morning and it showed slump continuing, although at a lower rate than previously.

Toyota’s production fell for a 13th straight month, declining 9% to 508,673 vehicles from August a year earlier, though the drop has been shrinking since March, and the company said. Honda’s output fell 17%. Nissan’s production was off 14%.

Year-to-date, TMC production is off 35%.

Toyota’s overseas production in August increased for the first time in 13 months, due to North America and Asia. China posted the largest gain, a 53% increase.

Toyota’s North American production gained 12%. This was largely the result of shutting all production of Tundra and Sequoia trucks last August. That shut down continued for three months.

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Toyota Loses ¥77.8 billion in its First Quarter

The bigger the giant is, the harder it falls. Is the worst over?

by on Aug.04, 2009

Another year before the red ink stops flowing, according the the family scion.

Another year before the red ink stops flowing, according the the family scion.

Toyota Motor Corporation lost more than $815 million in the first quarter of its fiscal year, as revenues declined 38% when compared with its first quarter of last year.

The swing into negative numbers was breathtaking. Net income attributable to Toyota Motor Corporation decreased from ¥353.6 billion to a loss of ¥77.8 billion or $4.52 billion. Major factors for the decline include ¥650 billion due to the effects of declining sales volume and mix, and ¥140 billion due to the appreciation of the Japanese Yen, mainly against the U.S. dollar and the Euro.

Critics have maintained for years that the Japanese government manipulates the value of the Yen to subsidize its export driven economy, but the global Great Recession has upset that equation.

“Although we were able to make certain improvements in fixed cost and cost reduction efforts, the decline in vehicle sales and the appreciation of the Japanese yen had a severe impact on our earnings,” said TMC Senior Managing Director Takahiko Ijichi.

Consolidated vehicle sales for the first quarter amounted to 1.4 million units, a decrease of 785,000 vehicles from the same period last fiscal year. Roughly speaking that’s the equivalent of three final assembly plants working full time, to say nothing of the stamping and component plants that support them.

Nevertheless, the world’s largest automaker upped its full year forecast to net revenues of ¥16.8 trillion, but still with an operating loss of ¥750.0 billion, a loss before income taxes and equity in earnings of affiliated companies of ¥700.0 billion and net loss of ¥450 billion, or $4.7 billion. These projections are based on the assumption of the foreign exchange rates: ¥90:$1, ¥130:€1.

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