Toyota Raises Full-Year Profit Forecast Despite Quarterly Dip
Toyota Motor Corp. has raised its full-year profit forecast to 3.57 trillion yen for the fiscal year ending March 2027, up from a previous estimate of 3.25 trillion yen. While quarterly net profit for July-September fell 19% year-on-year to 759.4 billion yen due to rising raw material costs and supply disruptions, overall sales rose to 13.4 trillion yen during the same period. The automaker is benefiting from a weak yen, which enhances the value of overseas revenue, and strong demand in the U.S., Japan, and Europe for hybrid models like the Camry and RAV4. However, Toyota faces challenges in China due to high gasoline prices and ongoing geopolitical tensions affecting supply chains. Despite these headwinds, the company expects global vehicle sales to reach 9.7 million units this fiscal year.
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Topics: automotive industry earnings report fiscal year guidance profit forecast
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