Toyota reported an 8.1% drop in fiscal third quarter profit, as a global shortage of computer chips and soaring raw material costs battering the auto industry hit Japan’s top automaker.
FILE - The company logo highlights the grille of a 2021 Tacoma pickup truck on display in the Toyota exhibit at the Denver auto show Friday, Sept. 17, 2021, at Elitch's Gardens in downtown Denver. Toyota reported a 64% drop in fiscal third quarter profit Thursday, Feb. 9, 2023, as a global shortage of chips and soaring raw material costs battering the auto industry hit Japans top automaker. – Toyota reported an 8.
Toyota kept its global consolidated vehicles sales forecast for the fiscal year that ends in March unchanged at 10.4 million vehicles. That would be little changed from what it sold in the previous fiscal year, at 10.38 million vehicles. Toyota expects to earn 2.36 trillion yen in profit for the full fiscal year, unchanged from its earlier forecast. That’s lower than its year-ago annual profit of 2.85 trillion yen.
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