Toyota 2nd-Half Profit Rises 4.2% to Record
Bloomberg News
Toyota Motor Corp.’s fiscal second-half profit rose a better-than-expected 4.2% to a record, as the world’s largest auto maker by market value sold more cars in the U.S. and gained from a weaker yen and lower costs.
Net income for the six months ended March 31 climbed to $2.55 billion.
Toyota joins Honda Motor Co. and Nissan Motor Co. in posting record earnings for the fiscal year just ended. All three grabbed U.S. market share from rivals, including Ford Motor Co., helped by sales of profitable light trucks and the weaker yen.
In the U.S., the source of about 70% of its profit, Toyota’s market share topped 10% for the first time, propelled by demand for light trucks such as the Highlander.
