Toyota sees higher full-year income on robust earnings
Source: Xinhua |
November 6, 2012, Tuesday
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Print Edition
Print Edition
TOYOTA Motor Corp yesterday raised its full-year group operating profit outlook to 1.05 trillion yen (US$13 billion) from 1 trillion yen, following robust earnings from the last quarter and despite slowing sales in China.
Japan's largest automaker said its earnings from the last quarter leapt to 143.7 billion yen, with sales totaling 4.52 million units in the period, up 1.49 million from the same quarter a year earlier.
Toyota noted that sales in Asia had been robust, particularly in Thailand and Indonesia, but said it expects sales in China during the second half of its fiscal year through March to drop sharply due to a consumer backlash following a territorial dispute between the two nations.
Toyota said it expects to sell some 200,000 fewer vehicles than previously expected in China, which is the equivalent of 30 billion yen.
Based on this, Executive Vice President Satoshi Ozawa yesterday said Asia's largest automaker had revised down its total sales for the year by 50,000 units to 8.75 million units.
With other automakers like Honda Motor forced to slash their forecasts based on the impact of Japan's Diaoyu Islands row with China, Toyota relying on China for only 12 percent of its sales has protected the auto giant somewhat.
By comparison, Honda, which cut its operating forecast by one fifth last week, is reliant on China for 20 percent of sales, and sales in China account for 27 percent of Nissan Motor's total.
Mazda Motor Corp yesterday said its new car sales in China fell by 45 percent in October from a year ago.
Japan's largest automaker said its earnings from the last quarter leapt to 143.7 billion yen, with sales totaling 4.52 million units in the period, up 1.49 million from the same quarter a year earlier.
Toyota noted that sales in Asia had been robust, particularly in Thailand and Indonesia, but said it expects sales in China during the second half of its fiscal year through March to drop sharply due to a consumer backlash following a territorial dispute between the two nations.
Toyota said it expects to sell some 200,000 fewer vehicles than previously expected in China, which is the equivalent of 30 billion yen.
Based on this, Executive Vice President Satoshi Ozawa yesterday said Asia's largest automaker had revised down its total sales for the year by 50,000 units to 8.75 million units.
With other automakers like Honda Motor forced to slash their forecasts based on the impact of Japan's Diaoyu Islands row with China, Toyota relying on China for only 12 percent of its sales has protected the auto giant somewhat.
By comparison, Honda, which cut its operating forecast by one fifth last week, is reliant on China for 20 percent of sales, and sales in China account for 27 percent of Nissan Motor's total.
Mazda Motor Corp yesterday said its new car sales in China fell by 45 percent in October from a year ago.
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