The Toyota bZ small SUV is photographed after an electric vehicle battery strategy briefing at the company’s showroom in Tokyo on December 14, 2021.
Beluzmehri | AFP | Getty Images
Japanese automaker Toyota Motor Corp on Wednesday Reports first quarterly operating profit decline In about two years, the company will work to steer the market toward electric vehicles.
Here’s how Toyota’s performance compares to analyst forecasts, compiled by London Stock Exchange Group (LSEG).
- income: 11.44 trillion yen vs 11.41 trillion yen
- operating profit: 1.16 trillion yen vs 1.24 trillion yen
The world’s largest automaker by sales fell 20% in operating profit this quarter.
The company’s attributable net profit more than halved to 573.7 billion yen from 1.28 trillion yen a year ago.
The automaker’s second-quarter sales fell to 2.3 million units from 2.42 million units a year earlier.
Still, Toyota raised its full-year dividend forecast to 90 yen from 75 yen a year ago.
Toyota Chairman Akio Toyoda has been slow to adopt all-battery electric vehicles It is said He said that “only electric cars will be the future” will lead to unemployment in the automobile industry.
According to Reuters, Akio Toyoda told reporters: “There are 5.5 million people in Japan engaged in the automotive industry. Among them are people who have been engaged in engine-related work for a long time.”
“If electric vehicles become the only option, including our suppliers, these people will be out of a job.”
The company’s full-year operating profit remained at 4.3 trillion yen.
Toyota has also been in the spotlight this year due to multiple vehicle recalls, the most recent in September.
The reason for the latest recall of 42,000 vehicles is the lack of power brake assist, which can extend the distance required to stop a vehicle. National Highway Traffic Safety Administration. The government says it affects certain 2023-2024 Corolla Cross Hybrid vehicles.
Early June, Toyota loses more than $15 billion in market value After Japan Ministry of Transport discovers false data Used by Japanese car manufacturers to certify certain models.
wide range Ministry of Land, Infrastructure, Transport and Tourism inspection Other automakers including Honda, Suzuki and Yamaha also had irregularities in their certification applications.
