Toyota’s Quarterly Profit Triples
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TOKYO (WWJ/AP) – Toyota is reporting some big quarterly profits.
In the first three quarters of the year, the Japanese automaker has sold 7.4 million cars and trucks world wide, putting it back in the number one spot. And, Toyota says it made $3.2 billion from July through September — driven largely by a recovery from natural disasters.
Toyota’s market share has been bouncing back in the U.S., rising to 13.9 percent of the market so far this year, compared to 12.3 percent a year ago.
Toyota is also slightly raising its profit forecast for the full fiscal year through March 2013 to $9.8 billion. The company had a profit of 283.5 billion yen profit in the previous fiscal year, when Toyota production was hammered by the disasters in northeastern Japan and Thailand.
The company’s optimism comes despite a sales plunge in China, where a territorial dispute has set off protests and a boycott of Japanese cars.