Toyota Posts Record Profits in 2013 Fiscal Year
2013 might have been over and done with for a while, but in Toyota’s world, the fiscal year 2013 didn’t end until March 31st. And while the Japanese automaker didn’t get to participate in a huge party like most of us do to signify a new year, Toyota did start 2014 with some positive news—a record group net profit of around U.S. $17.8 billion in their 2013 financial year. This signifies an 89.5 percent increase from the previous financial year, and gives everyone at Toyota a reason to celebrate.
In 2013, Toyota became the first ever car maker to sell more than 10 million vehicles in a 12-month period—something that it expects to happen again in the current calendar year. Despite this, Toyota is projecting a slower year thanks to additional expenses like the $1.2 billion penalty recently settled in the U.S. Justice Department in response to delaying recalls. Having said that, the Japanese automaker anticipates experiencing solid growth in sales moving forward, and hopes to sell 10.25 million vehicles compared to 2013’s 10.13 million.
The first quarter of the 2014 calendar year saw a 12.5 percent increase in sales from the previous quarter, suggesting that Toyota is on the right track towards its goal. For more news on Toyota’s sales, keep checking in with us!