Toyota sells fewer cars but limits corona damage
Toyota has reported a profit of 2.07 trillion yen (17.86 billion euros) in this financial year through March 31, the company announced Tuesday. The effects of the corona crisis remain largely out of the books. However, for the next broken fiscal year, the Japanese brand warns of a sharp drop in profit and sales.
As the effects of the corona crisis in much of the world are only now becoming apparent, Toyota warns that profit for fiscal 2021 is expected to decline by 79.5 percent.
Sales revenue, which will collapse by nearly two million copies in the current fiscal year, may decline by 19.8 percent.
The profit for the current financial year represents an increase of 10.3 percent compared to a year earlier. Revenue was already down, albeit by 1 percent to 29.9 trillion yen.
Car sales show a mixed picture, since the coronavirus started in Asia and only later emerged in Europe and the United States. Sales in Asia therefore fell by 79,624 units to 1.6 million units, while the number of registrations in Europe rose by 34,477 units to 1.02 million units.
Ultimately, the sales increase in Europe, Central and South America, Africa, the Middle East and Australia could not offset the decrease elsewhere. Nevertheless, Toyota kept the damage limited, because at the bottom of the line sales with a total of 8.95 million vehicles were only 18,372 copies lower.