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Toyota Earnings Slip; Company Cuts Forecast

Strong yen, production problems, sliding margins take a toll.

by on Aug.04, 2016

Toyota CEO Akio Toyoda faces pressure to cut costs even as the maker invests in new products.

Snagged by a strong yen, tepid sales and supplier problems, Toyota Motor Corp. delivered a weak profit for the latest quarter, the Japanese giant also warning that the current fiscal year could be its weakest in nearly half a decade.

Toyota, whose global sales slipped behind rival Volkswagen AG for the first half of this year, said it earned $5.1 billion for the April-June quarter, the first in its new fiscal year. That was a decline of 14.5%. Operating earnings, meanwhile, were off 15%, to $5.9 billion.

By the Numbers!

Net revenues also declined 5.7%, to $60.9 billion, despite a modest 1% increase in global vehicle sales. The maker sold 2.53 million cars, trucks and crossovers for the quarter, but that number was short of expectations due to a series of natural and man-made disasters that impacted production in Toyota’s home market plants.


Toyota Profits Down – But Big Increase Forecast

Maker hammered by strong yen, but bets on cost-cutting, emerging market demand.

by on Feb.08, 2011

Toyota is hoping to boost sales - and profits - with a new Prius sub-brand of hybrids.

Hammered by a strong yen, the end of green car incentives at home and the cost of reining in quality and safety issues, Toyota Motor Co. is reporting a sharp, 39% decline in its fiscal third-quarter net earnings, but the maker now expects full-year profits to come in at 40% above previous forecasts, largely driven by sales in emerging markets.

While vehicle sales slipped during the October – December quarter, the world’s largest automaker also predicts sales will recover and see a slight increase before the fiscal year ends on March 31st.  Toyota just narrowly maintained its lead over global second-ranked General Motors during the 2010 calendar year, but the Japanese maker now anticipates selling 7.48 million vehicles worldwide for its current fiscal year, an increase of 70,000 over its earlier forecast.

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Though the third-quarter was a challenging one, a survey of industry analysts suggests the results were in line with, or slightly better than, most had forecast.  Net income dipped to 93.6 billion yen, or $1.14 billion at the current exchange rate.

A variety of factors can be pointed to for Toyota’s recent problems.  There are higher material costs.  The Japanese home market suffered a downturn due to the government’s cancellation of the green car incentive program.  And sales in North America took hits – despite the general recovery of the U.S. economy – due to the apparent impact of the maker’s ongoing safety problems.