Toyota Raises Full-Year Profit Forecast Amidst Tariffs Uncertainty
TOKYO (Reuters) - In a testament to its resilience amidst potential U.S. tariffs, Toyota Motor has boosted its full-year operating profit forecast by 9%.
The automotive giant adjusted its forecast for the fiscal year ending March 2025 to 4.7 trillion yen ($30.7 billion), surpassing the previous estimate of 4.3 trillion yen. This upward revision reflects Toyota's progress in enhancing its earning capabilities through efforts to sharpen its product competitiveness, as stated in its presentation materials.
Despite reporting a weaker-than-expected third-quarter result, Toyota maintained its positive outlook. Operating profit for the December quarter stood at 1.22 trillion yen, marking a 28% decline from 1.68 trillion yen year-over-year. This result fell short of the 1.42 trillion yen average forecast by nine analysts in an LSEG poll.
In recent quarters, demand for Toyota's hybrid vehicles has spurred growth in major markets, including the U.S. Last week, the automaker announced global group unit sales of 10.8 million vehicles in 2024, solidifying its position as the world's top-selling automaker for the fifth consecutive year.