Toyota reports record revenues and income for third quarter

Toyota today announced record net income for the first half of its fiscal year with 942.4 billion yen (or $8 billion), which is up 21.3% from the same period last year. Toyota’s fiscal year starts in April. The company also reported record revenues for the six-month period with 13.01 trillion yen ($110 billion), up 13.4% from the same period last year.

While sales in its home market fell, vehicle sales in North America totaled 1.497 million units, an increase of 33 thousand units, due to steady sales including the redesigned Tundra and the Prius. In Europe, vehicle sales increased by 46 thousand units, to 635 thousand units, due to strong sales of the redesigned Corolla and the Auris. Sales in Asia increased by 70 thousand units, to 452 thousand units.

In Japan, vehicle sales decreased by 67 thousand units. Operating income increased by 88.9 billion yen, to 773.3 billion yen.

“We aim to achieve higher levels of revenues and profits through further increase of vehicle sales and cost reductions,” executive vice president Mitsuo Kinoshita said in a press release.

Toyota estimates global sales for the fiscal year ending March 31, 2008 to be 8.93 million vehicles.


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