Toyota Motor nearly doubled its profits in its third quarter (ended December), as its US presence continues to grow.
The world’s number three auto firm posted Q3 net earnings of ¥216.1 billion ($1.8bn; €1.7bn; £1.1bn), jumping from ¥111.5bn in the same three months the year before. Operating profits rose from ¥307.8bn to ¥379.4bn, while vehicle sales jumped 13.2% to ¥4,180bn.
Although sales increased in all Toyota’s global operating regions, its most impressive growth was in North America, where it shifted 533,000 units in Q3, up 15.6%. Its Camry model was the biggest-selling passenger car in the US last year.
North America is proving such a growth market that Toyota now sells almost as many cars in the region as it does in its native Japan. For the third quarter, North America accounted for 33.7% of units sold, Japan 34.5%.
Data sourced from: Financial Times; additional content by WARC staff