The Japanese automaker, Toyota Motor, announced today record profits of 4.94 trillion yen (€29.7 billion) in the fiscal year ended in March, more than double the previous period.
In the fiscal year that ran between April 2023 and March 31, 2024, Toyota’s operating profit also rose by 96.4% to 5.32 trillion yen (€32.1 billion), which is the highest ever for a Japanese company, according to local press.
The operating profit before interest and taxes, known as EBIT, increased by 89.8% year-on-year to 6.96 trillion yen (€41.8 billion), the manufacturer stated.
Toyota’s sales volume, the world’s largest automaker, was 45.1 trillion yen (€270.6 billion), representing a 21.4% increase from the previous year.
During the period under review, Toyota announced that it sold 9.44 million vehicles, a 7% increase year-on-year, with growth in all of the company’s markets.
The exception was Japan, where the Toyota group was affected by the suspension of sales by subsidiary Daihatsu, as revealed by the company’s CFO, Yoichi Miyazaki.
It is worth noting that Daihatsu resumed operations at all its factories in Japan on Tuesday after a suspension of over four months due to a series of irregularities disclosed by an external investigation.
Sales for the entire group, including the luxury brand Lexus, reached 10.3 million vehicles, up 7.3% from a year earlier. More than a third (37.4%), or nearly 3.9 million, were electric, representing a growth of 7.8%.
For the current fiscal year, which began on April 1 and runs until the end of March 2025, Toyota expects a 27.8% drop in net profit, to 3.57 trillion yen (€17.4 billion).
Regarding sales volume, Toyota expects a 2% increase, to 46 trillion yen (€276 billion).
