Toyota has raised its full-year profit forecast despite a 19% fall in second-quarter net profit, as sales held up against US tariffs, supply disruptions and higher raw material costs.
Japan’s biggest carmaker reported net profit of 759.4 billion yen for the three months to September, down from 932 billion yen a year earlier. Quarterly sales nevertheless increased to 13.4 trillion yen from 12.4 trillion yen.
Toyota now expects to make a profit of 3.57 trillion yen in the financial year ending in March 2027, up from its previous projection of 3.25 trillion yen. Profit in the previous financial year was 3.8 trillion yen.
Toyota sales remain resilient in key markets
The company sold 4.76 million vehicles during the first half of its financial year, slightly below the 4.78 million sold during the same period a year earlier. It expects global sales to reach 9.7 million vehicles for the full year, compared with almost 9.6 million previously.
Toyota said sales remained strong in the United States and held up in Japan and Europe. In Japan, the RAV4, bZ4X and Land Cruiser FJ sports utility vehicles were among the better-performing models, while the Camry and RAV4 hybrids were popular in the US.
Vehicle sales in China suffered, partly because of rising petrol prices. Sales across Asia were broadly flat, although they increased in Indonesia and Thailand.
For the first six months, Toyota recorded profit of nearly 2.2 trillion yen, up from about 1.8 trillion yen, while sales rose to 26.96 trillion yen from 24.6 trillion yen.
The carmaker said it had reduced the impact of higher material costs by optimising its global supply network and maintaining strong sales. A weaker yen has also increased the value of overseas revenue when translated into the Japanese currency, with the US dollar trading at about 158 yen compared with 154 yen a year earlier.
Toyota shares rose in Tokyo following the results, reaching about 3,500 yen from roughly 3,200 yen.
