Winning of Toyota collapsed by 28 percent, now prices should increase

The Car company Toyota Despite a decline in profit in the past quarter, it is confident for the rest of the year. In the third quarter, the operational profit fell by 28 percent to 1.22 trillion yen (7.66 billion euros) compared to the previous year’s quarter, the compared to the vehicles sold to the world’s largest car manufacturer said on Wednesday. Analysts surveyed by LSEG had expected 1.42 trillion yen.

In North America The profit fell 63 percent in the first nine months, which Toyota justified with a sunken heel and higher personnel costs. In China the hard competition was bothered by the group. To keep market shares, he spent more for marketing there.

Price increases

Nevertheless, the car company now wants to get an operational profit of 4.7 trillion yen in the financial year, which had been ongoing until the end of March, after he had previously targeted 4.3 trillion. Among other things, price increases, stabilization of production and the weaker yen should pay off.

Toyota also announced that Toyota was founding a daughter in Shanghai to develop and produce electric vehicles and batteries for the Lexus luxury brand. Production is scheduled to begin in 2027 and have an initial capacity of around 100,000 vehicles per year.