Toyota Motor Corp.'s profit surged 53% in the latest fiscal year as Japan’s biggest automaker boosted sales in the U.S. while increasing its leading share of the market at home.
Toyota’s group profit totaled $8.1 billion for the fiscal year ended March 31, the company said. Sales rose 6% to $138 billion. Both were record highs for the manufacturer for the third straight year. North America sales reached 1.98 million vehicles, up 202,000 vehicles from a year earlier.
Shares of the automaker fell 75 cents to $46.78 on the New York Stock Exchange.