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Toyota's win boosted by weak yen

The Japanese car giant Toyota reported an operating profit of approximately 94 billion kronor for the first quarter of the broken fiscal year. It was an increase of 17 percent compared to the same period last year.

» Published: 01 August 2024

Toyota's win boosted by weak yen
Photo: Janerik Henriksson/TT

The sale of cars is faltering in Japan and China, but hybrids are selling well on the American market. At the same time, the company's revenues have been favored by the weak yen.

The company has major problems with its production since Japanese authorities ordered Toyota and four other manufacturers to pause deliveries of certain models. The reason is that the vehicles are not considered to have full certification for mass production.

"Despite the inability to maintain stable production in Japan, due to factors such as certification problems and recalls, we achieved an increase in profit thanks to all our stakeholders, including suppliers and dealers", writes Toyota in a statement.

Toyota's sales fell globally by 4.7 percent to 5.2 million cars during the first half of the year. Among other things, recalls and tough competition from Chinese electric car manufacturers are pressuring Toyota in Japan and China.

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By TTThis article has been altered and translated by Sweden Herald

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