Asian rebound returns Toyota to profit after two years | autos | Hindustan Times
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Asian rebound returns Toyota to profit after two years

Toyota Motor Corp reported a quarterly profit of $2.2 billion (R10,164 crore), reversing from red ink a year earlier as the world’s top automaker benefited from a global sales recovery that offset lingering doubts about the safety of its cars.

autos Updated: Aug 04, 2010 22:19 IST

Toyota Motor Corp reported a quarterly profit of $2.2 billion (R10,164 crore), reversing from red ink a year earlier as the world’s top automaker benefited from a global sales recovery that offset lingering doubts about the safety of its cars.

The company raised its full year earnings forecast on Wednesday, and said it now expects to sell 7.38 million vehicles worldwide for the year through March 2011, up from 7.24 million the previous year.

In terms of geography, Asia was the best performer with sales climbing by 47 per cent to 2,85,824 units; sales in North America grew 36 per cent to 5,25,678 units while in Japan sales rose 23 per cent. Only Europe was a weak spot with sales falling 14 per cent.