Toyota net profit tumbles nearly 30 pct in first nine months, slashes forecast
- Country:
- Japan
Japanese car giant Toyota on Wednesday slashed its full-year net profit forecast after profits tumbled nearly 30 percent in the first nine months. The maker of the Camry sedan and Prius hybrid now expects annual net profit of 1.87 trillion yen ($17 billion) instead of 2.3 trillion yen it projected three months ago.
The new forecast represents a 25-percent plunge from the last year. Its net profit for the nine months to December came to 1.42 trillion yen, down 29.3 percent from the same period the previous year.
Operating profit rose 9.5 percent to 1.94 trillion yen on sales of 22.5 trillion yen, an increase of 3.1 per cent. Fellow Japanese automaker Honda last week logged a net-profit fall of 34.5 percent for the nine months to December but revised up its full-year forecasts thanks to strong motorcycle sales. Nissan is to announce results next week, the first since its former chief executive Carlos Ghosn was arrested on November 19 for financial misconduct.
(With inputs from agencies.)
- READ MORE ON:
- Findlay Toyota
- Toyota Tacoma
- Toyota Corolla
- Market maker
- Maker culture
- Maker's Mark
- Honda Odyssey
- Honda Pilot
- Honda City
- Tokyo Tokyo
- Japanese Cuisine
- Japanese people
- Japanese Language
- Hybrid vehicle
- Hybrid Air Vehicles
- Sports sedan
- Honda Motor Company
- All-wheel drive
- Carlos Ghosn
- Marie Curie
ALSO READ
The Mahindra Group Announces Rs 1,200 cr Investment into 150 MW Hybrid Project in Maharashtra
New 'Hybrid Pitch' to be Used for IPL Matches in Dharamsala
HPCA Stadium in Dharamshala becomes first Indian venue with hybrid pitch technology
Dharamsala to get India''s first ''hybrid pitch''
World Bank shareholders pledge $11 bln for hybrid capital, guarantees, German minister says