Report: Toyota could report $1.1 billion quarterly profit

Thanks to a solid sales run for April-June, ToMoCo is likely to post a group operating profit of about 100 billion yen ($1.1 billion) for that period. Uncertainty over the European and U.S. markets have left the annual profit forecast unchanged. The same period one year previous saw a loss of 194.8 billion yen for the company.

Toyota, which is the world’s leading automaker, has been hurting since a recall crisis involving multiple safety recalls across the Toyota and Lexus brands started last September. Strong sales of the Prius, and strong-performance in emerging markets have helped Toyota stave off a good amount of worry.

Sales have picking up worldwide for the company though, as the Toyota Group, which includes a number of subsidiaries over seas moved between 1.8 million and 1.9 million units in the three months leading up to June.

Click here for our review on the 2010 Toyota Prius.

– By: Stephen Calogera

Source: Automotive News (Subscription Required)