Toyota turns out record profits, again

Toyota announced today that in the fiscal year that ended March 31, the company hit record revenues and profits once again. Toyota reported a revenue increase of 13.8 percent to $202.86 with sales growing 6.9 percent to 8,524,000. Operating profits increased 19.2 percent to $18.96 billion, while net income hit 19.8 percent to $13.93 million. Sales in North America increased 15.1 percent to 2,942,000.

Toyota recently took the number one spot from GM by selling 2.35 million cars in the first quarter. The tally of cars includes Toyota brand vehicles, Lexus, Scion as well as vehicles from units Daihatsu Motor Co. and Hino Motors Ltd.

Toyota is predicting that sales will grow in every region of the world for the fiscal year beginning April 1.