Paul
Allscion -- an e-commerce Website with news and accessories for your Scion vehicles
http://www.allscion.com/store


Toyota's Operating Profit
Is Seen Rising 23%
To $4.4 Billion for April-June

Nikkei Net Interactive
July 29, 2006

NAGOYA -- Toyota Motor Corp. is set to report a group operating profit of about 500 billion yen ($4.4 billion) for the April-June quarter, up 23% from a year earlier, The Nihon Keizai Shimbun learned Friday.

Sales growth at its North American and other overseas operations, combined with the effect of a weaker yen against the dollar, is credited with helping the world's most profitable automaker post the sharp increase, offsetting higher research and development spending and rising raw materials costs.

Toyota, which uses U.S. accounting standards, forecasts a full-year operating profit of 1.9 trillion yen. Despite such uncertain factors as foreign currency volatility and possible erosion of its brand power caused by increasing recalls, the automaker's operating profit could reach 2 trillion yen.

But Toyota will likely stick with the 1.9 trillion yen estimate when it announces its first-quarter earnings on Aug. 4.

Sales for the quarter are seen rising about 10% to some 5.5 trillion yen.

North American sales in terms of volume appear to have increased about 10%. Sales of the Corolla subcompact and other models remained bullish, capitalizing on growing customer preference for fuel-efficient Japanese cars amid higher crude oil prices.

The company expects the same level of domestic sales as the previous year's corresponding quarter. While sales in Asia did not grow as expected, its European operations appeared to have posted a double-digit gain.

Toyota shipped more than 2 million vehicles for the second consecutive quarter.

The dollar traded at about 115 yen during the April-June period, instead of the 110 yen initially projected, having contributed 40 billion yen in profit.

 

Not surprising since the cost of gas has risen and if I stand correct, Toyota was the 1st auto manufacturer to promote the high MPG their vehicles get...

 

Congrats Toyota!
My check in the mail?

All this talk about MPG...
I'm still waiting on the 60-100MPG Hybrid SUV/Truck..
That is unless you guys come out with a better option like hydro~electic hybrid SUV/Truck.
The whole concept is to be able to drive from one border to the other (California to Washington) on 1 tank of gas while towing something like a boat. I think I'm dreaming..
Now that would be the day!