Car industry Toyota maintains earnings outlook despite losses
The world's largest car manufacturer Toyota has lowered its sales forecast for the current financial year in view of the weakness in the industry. However, the Japanese company is sticking to its profit outlook, despite weakening business in Japan and China.
06.11.2024, 08:27
SDA
Toyota is now expected to sell 10.85 million vehicles in the financial year to the end of March, 100,000 fewer than previously targeted, according to the Group.
In the second financial quarter, the company earned 1.16 trillion yen (7 billion euros) from operations, compared with 1.44 trillion a year earlier. Analysts had expected fewer losses. Sales remained more or less stable at 11.4 trillion yen. At the bottom line, profit fell to 574 billion yen, less than half the previous year's figure.
