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Toyota to Log 8% Operating Profit Gain
For Full-Year 2005 on Rising Overseas Sales

NIKKEI NET INTERACTIVE
April 25, 2006

NAGOYA (Nikkei) -- Toyota Motor Corp. is expected to report an 8% increase in group operating profit to slightly more than 1.8 trillion yen for the fiscal year ended March 31 on strong sales in the U.S. and other overseas markets as well as the sliding yen, The Nihon Keizai Shimbun learned Monday.

The figure will mark the carmaker's sixth consecutive year of record operating profits. Toyota uses U.S. accounting standards in reporting its earnings.

Group sales appear to have jumped 12% to about 20.7 trillion yen, roughly on par with the 20.8 trillion yen in sales recorded by Ford Motor Co. for the year ended Dec. 31. Toyota has already overtaken struggling U.S. rivals General Motors Corp. and Ford in terms of profits.

The automaker's net profit apparently climbed 11% to just over 1.3 trillion yen.

Vehicle production increased by 10% to approximately 8.45 million units. Sales in the U.S., the world's largest car market, rose 10% to 2.26 million units in 2005. Toyota saw strong demand for its key Camry sedan and other models at a time when fuel-efficient Japanese cars are benefiting from escalating crude oil prices. Sales of its IMV global strategic vehicle also increased in Asia.

Despite being hit by soaring prices for steel, synthetic resins and other materials, parts integration and inventory cuts allowed the carmaker to save close to 140 billion yen.

The weakening yen is estimated to have pushed up the company's profits by around 100 billion yen during the January-March quarter alone, as the dollar hovered around 117 yen, and by roughly 250 billion yen for the full fiscal year.

 

HAHA well it just goes to show that some car makers actually listen to what people want/need for cars(See Honda/Toyota) while some(ALL American companies) are FINALLY GETTING THROUGH THERE THICK SKULLS that people want RELIABLE, QUALITY INTERIORS, LOOKS, AND STANDARD OPTIONS!! WTF? Whats up with American car makers?!? If they have a shooting chance in hell they need to rethink of the quality of the interiors and the cars as a whole...

Sorry I just had to vent (I owned a Pontiac once) I've seen both sides Thanks!

 

Yeah, its a little silly how shortsighted the US manufacturers are. Hmm... lets look back just a few decades in history. Why were the Japanese auto companies able to gain a foothold in the US market in the first place?

Could it be because of the drastically rising oil costs that made fuel-efficient cars look appealing while US makers continued to pump out guzzling behomeths?

Replace Ford LTDs, Dodge Diplomats and Chavy Caprices with Ford Excursions, Dodge Power Wagons and Chevy Suburbans and does anything really look ANY different today?