The world’s largest car makers have doubled their profit to a net income of 3.13.9bn yen ($3.2bn) from 121bn yen, marking its highest in six years. Toyota has gained a profit of 1.37tn yen from 962bn this year.
Exporters such as Toyota may benefit from Japan’s plans to weaken the yen which has helped the car makers boost their sales.
A weak yen help boost the value of foreign income and helps with the competitive Japanese companies overseas.
Tokyo based analyst “Issei Takahashi said “Adjusting the price of cars or suddenly adding incentives to gain volume sales would have a negative impact on their brand image in the long term, so that’s not a part of Toyota’s basic strategy,”
Toyota’s global market share topped the industry with approximately 12% in 2012 for 3.4 % of the European market.
The amount of exports from Japan accounted for about 44 percent of Toyota’s output between January to March which makes the weaker yen a bigger profit for the company.
The world’s biggest carmakers have believed to have recovered after the tsunami and earthquake which disrupted most of the supply chains and production.
Toyota has managed to recover the sale figures in most of the Asian markets and the US.
The post Toyota’s Profit Highest In Years appeared first on | HY Markets Official blog.
Article provided by HY Markets Forex Blog
