The Japanese car group Toyota Motor reported a net profit of 1.47 trillion yen (11.59 billion euros) between April and December 2020, 14.1% less than the previous year due to the impact of the pandemic, as announced today the Japanese firm. This saw its operating profit fall by 26.1% to 1.51 trillion yen (11.906 million euros) in the aforementioned period, which represents the first nine months of the fiscal year in Japan.
The turnover of the largest Japanese manufacturer in the automotive sector by sales volume was 19.52 trillion yen (153,915 million euros), 15% less than the previous year due mainly to the decrease in global demand due to the health crisis of the coronavirus, the company explained at a press conference. Toyota Motor sold 5.43 million vehicles worldwide between the months of April and December, which represents a decrease of 20.7% compared to the previous year. “Despite the continued impact of the coronavirus pandemic in all regions, we have managed to close this period with a positive operating result,” said Toyota’s chief operating officer, Kena Kon, in a telematic press conference.
The executive of the company also highlighted “the trend in the recovery of sales” observed in the last quarter of 2020 in Japan, China and the United States, its main markets. Another factor that has mitigated the drop in global demand in Toyota’s results is the cost reduction plan of 300 billion yen (2.365 million euros), Kon said.
Based on these results, the Japanese manufacturer decided to revise upwards its forecast of results for the current fiscal year, which will end on March 31. Toyota Motor expects to register a net profit of 1.9 trillion yen (14,981 million euros), 6.7% less year-on-year, while its operating profit would amount to 2 trillion yen (15,770 million euros), a 16, 6% less. The company estimates that its annual sales turnover will be 26.5 trillion yen (208,950 million euros), 11.3% less, and estimates that it will place 7.6 million vehicles worldwide, 15% less .