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Toyota reports profits rose 9 percent in latest quarter

Toyota reports profits rose 9 percent in latest quarter

Toyota's profit in the January-March quarter climbed 9 percent as the automaker marked its seventh straight record fiscal year of booming sales amid robust demand for its Corolla, Camry and Lexus models.
Toyota Motor Corp., which beat General Motors in worldwide vehicle production and sales for the January-March period for the first time ever, reported group profit of 440.1 billion yen (US$3.67 billion) for the fiscal fourth quarter from 404 billion yen the same period the previous year.
Toyota's sales are surging as soaring gas prices boost the appeal of its models, which are reputed worldwide for fuel-efficiency, including gas-and-electric hybrids.
Analysts say Toyota is growing so quickly it's just a matter of time before it overtakes problem-laden General Motors Corp. of the U.S. to become the world's No. 1 automaker _ a title that technically hinges on annual worldwide vehicle production.


Updated : 2021-10-16 07:06 GMT+08:00