Toyota Profits Continue to Soar

08 November 2006

TOKYO: Japanese automaking giant Toyota Motor has raised its annual profit forecasts after reporting strong third quarter results with a rise in operating profits of 44% to reach ¥581 billion ($4.9bn; €3.8bn; £2.6bn).

The results beat expectations and the firm now expects operating profit for the year to reach ¥2.2 trillion.

Toyota's expansion in the US, at the expense of domestic manufacturers, has been driven by customers choosing its smaller, more fuel-efficient brands, such as Camry and Yaris.

Data sourced from BBC Online; additional content by WARC staff