Toyota posts JPY290.3 billion net income for its fiscal first quarter

Article by Anita Panait, on August 4, 2012

Toyota Motor Corp. logged a gigantic leap in quarterly net profits by posting JPY290.3 billion (EUR3 billion) in the fiscal first quarter ended June 30, 2012, from EUR1.16 billion in the same period in 2011. The company also posted JPY3.4 billion (EUR35.6 million) in first-quarter operating profit in Europe, despite the dwindling demand for cars in the continent.

This is in sharp contrast to a EUR68.8 million operating loss in Europe in the fiscal first quarter of 2011, when company started feeling the effects of the natural disasters in Japan. Toyota posted an 11-percent increase in net revenues in Europe for three months ended June 30, 2012, to JPY512 billion (EUR5.3 billion) in Europe.

According to Toyota Senior Managing Officer Takahiko Ijichi, the Japanese automaker predicts car sales in Europe will drop by 5 percent in 2012, which means the continent is heading for the fifth straight of declining volumes. Toyota, however, is not much affected by the current debt crisis in Europe as it is less reliant on the region’s demand than PSA/Peugeot-Citroen, General Motors and Ford.

In contrast to Toyota’s results in Europe, Ford and GM posted $404 million and $361 million in losses during the same quarter. PSA’s automaking division, meanwhile, posted a EUR662 million loss in the first six months of 2012. New-car registrations sales dropped 6 percent in the first half of 2012 to 6,896,348 in Europe. For the rest of the year, Toyota expects the demand for its vehicles in North America and Japan to rise further.

Topics: toyota, income

If you liked the article, share on:

Comments

Recommended

As seasons change, temperatures rise and fall. The changes affect our preferences when it comes to driving cars. Therefore, Aston Martin introduces the new DB11 Volante or convertible, and it...
by - October 16, 2017
Aston Martin may be known for building many of the stylish Bond cars we see on the big screen but nobody really knew how it can get super aggressive when...
by - October 16, 2017
Today, manual transmissions have become rare in mainstream cars and are more commonly found in performance cars within the $20,000 to $40,000 range. However, the selection of affordable, three-pedal performance...
by - October 16, 2017
We expected to see the BMW i8 Roadster at last month’s 2017 Frankfurt Motor Show, but it never made an appearance. So the question on fans’ lips now is when...
by - October 16, 2017
Jaguar has just released the first official image of its newest offering, the new Jaguar XEL. Essentially the long-wheelbase version of the Jaguar XE compact sedan, the new Jaguar XEL...
by - October 14, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries