The Ascent Of Toyota
February 6, 2008Toyota is now the world’s most profitable automaker.
In Reuters yesterday, Japanese automaker Toyota, announced its 7.5 percent increase in quarterly profit which it attributes to its share in Chinese and Russian markets. However, it continues to take precautionary measures in its US markets, where sales dropped 8,000 vehicles because of the country’s weak economy.
“The company is taking a cautious view for two main reasons: The possibility of the US economy falling into recession, which will hurt consumption, and the sronger yen,” Mitsushige Akino, chief fund manager at Ichiyoshi Investment Management, told Reuters.
See the relevance between how an Acura Legend engine mount works and Toyota’s vibrant rise in the auto market? It’s simply in the art of mastering CONNECTION. Toyota’s Lexus luxury sedans and its Prius hybrid, popular for their fuel-efficiency, continue to earn profits for Toyota, particularly in oil-rich regions and other emergent markets. The company’s earnings were boosted by the current oil price summed at $100 per barrel.
Toyota reported that it sold about 2.281 million vehicles in October to December of last year. Toyota Senior Managing Director Takeshi Suzuki was quoted saying, “We posted our highest ever quarterly results for the third quarter in both revenues and profits, despite the severe business environment.”
Meanwhile, the company forecasts a 1.7 trillion yen-worth of net profit and a 2.3 trillion yen-worth of operating profit all throughout the year until March of next year.
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