Toyota raises annual profit forecast to $31 billion, buoyed by strong U.S. hybrid sales.

Toyota raised its annual operating profit forecast to ¥4.7 trillion ($31 billion) for the year ending March 2025, despite a drop in third-quarter operating profit. The company cited a faster recovery in business activity and strong US demand for hybrids as reasons for the revision. Toyota reported a 28% decrease in third-quarter operating profit but a 62.6% increase in net income. It plans to launch a wholly-owned subsidiary in Shanghai for Lexus battery electric vehicles, aiming to start production post-2027.

6 weeks ago
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