Toyota takes 23% hit to profit on lower sales, yen
Yuri Kageyama, Associated Press 6:50 a.m. ET Feb. 6, 2017
Tokyo —Toyota Motor Corp. said Monday that its profit fell 23 percent in the October-December quarter
from a year earlier as its sales fell and a stronger yen squeezed its overseas earnings.
The company, which recently relinquished the crown of world’s biggest automaker to German rival Volkswagen,
reported its fiscal third quarter profit was 486.5 billion yen ($4.3 billion), down from 627.9 billion yen in 2015.
Quarterly sales of the maker of the Prius hybrid, Camry sedan and Lexus luxury cars slipped 3.5 percent to
7.1 trillion yen ($63 billion).
Edited by jpd80, 06 February 2017 - 02:22 PM.