TOKYO (AP) — Toyota doubled its net profit in the fiscal year that ended in March, as strong vehicles sales and a favorable exchange rate lifted results for Japan’s top automaker.
Toyota Motor Corp.'s annual profit totaled 4.9 trillion yen ($31.9 billion), up from 2.45 trillion yen the year before, while its sales jumped 21% to 45 trillion yen ($290 billion), the company said Wednesday.
The results exceeded Toyota’s own projection for a 4.5 trillion yen ($29 billion) profit, as its global sales surged to 9.4 million vehicles from 8.8 million vehicles in the previous fiscal year.
Sales of hybrids performed well, although Toyota stressed it was working hard to offer various kinds of electric vehicles, including battery EVs, plug-ins and fuel cell models.
A weak yen worked as a big plus for Toyota, which makes the Camry sedan, Prius hybrid and Lexus luxury models. The U.S. dollar cost an average of 145 Japanese yen during the last fiscal year, up from 135 yen in the year before, according to Toyota.
Diego Simeone is involved in feisty touchline bust
Fernando Alonso commits his future to Aston Martin by signing new two
Kris Jenner, 68, looks chic in D&G dress for 'date night' with longtime boyfriend Corey Gamble, 43
Rachael Blackmore to place in BOTH rides on Day 2 of Aintree boosted to 11/4
BBC announce Tom Hiddleston is set to return to The Night Manager for two more series
Masters stars' adorable children take over the course on the eve of the tournament
Chinese, French experts seek multilateral future at global governance forum
Chinese satellite detects over 100 solar white
Jeffrey Dean Morgan cuddles up to Hilarie Burton as loved