Categorized | Automotive news, Business news, International, National, Northeast Mississippi, Toyota

Toyota drives to near-record profit despite sales drop

Falling sales aren’t a good thing, but if your profit rises, that eases the news.

And that’s the case with Toyota, which said today its profit for the  July-September quarter jumped 70 percent.

Those results were powered by a 12.2 percent jump in U.S. auto sales during the quarter, offsetting a drop in sales in Asia.

For the full year that ends in March, Toyota projects a profit of $16.95 billion, near its record profit in 2008 before the  Great Recession’s impact hammered the auto industry.

And good news for North American production – which includes  Toyota Motor Manufacturing Mississippi, which builds the Corolla: Toyota projects sales to increase  to 2.63 million total vehicles, up from an earlier projection of 2.61 million.

Subscribe to Blog via Email

Enter your email address to subscribe to this blog and receive notifications of new posts by email.

Join 3,587 other subscribers