Toyota posted strong interim results as the world car makers struggle

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Toyota announces the record high income for April-September period


Toyota announced its financial results for the April-September period of 2019 on November 7. Net income increased by 3% year-on-year to 1,274.9 billion yen, a record high for the same period.

Despite the decline in the global automobile market, sales volume increased driven by sales of new models. More frequent model changes than other companies have led to strong results. Even in the US, where sales were sluggish, the company posted very strong profits through cost reductions.

As a result, sales in the April-September period increased 4% to ¥ 15,285.5 billion, and operating income increased 11% to ¥ 1,404.3 billion.

As for competitors, sales volume in April-September period was down 1% for Volkswagen (VW) and down 6% for General Motors (GM).

While many of the world's major automakers are struggling with declining profits, Toyota's business performance is supported by the launch of a series of new models.
In the current term, the main multi-purpose sports car RAV4 and the sedan Corolla were fully remodeled.

The company raised the full-year forecast of profit before tax for the fiscal year ending March 2020 by 15 % to 2,630.0 billion yen, while keeping the net profit unchanged with 2,150 billion yen, an increase of 14% from previous year. 

Toyota posted strong interim results as the world car makers struggle
In this financial results, Toyota has proved its characteristic of high efficiency remained intact as the chart below shows.

Toyota posted strong interim results as the world car makers struggle

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