From CNBC: 2025-02-05 01:27:45

Toyota Motor reported a second consecutive decline in quarterly profit, with a nearly 28% drop in operating profit compared to the previous year. Despite this, net income increased. Vehicle sales fell to 2.44 million units, and the company maintained its dividend forecast at 90 yen. Toyota raised its operating income forecast for the full year and plans to establish a new company in China for electric vehicles production.

Toyota’s slow embrace of fully electric vehicles has led to operating profit declines in key regions like North America and Asia. The company’s focus on hybrids has set it apart from competitors, but it aims to catch up with the establishment of a new company for Lexus BEVs and batteries in China. Shares rose over 1% in response to the news.



Read more at CNBC:: Toyota Motor posts nearly 28% drop in third-quarter operating profit, missing estimates