TOKYO — Toyota's second quarter profit more than quadrupled despite lingering worries about the safety of its cars after massive recalls that are still dogging its sales in the U.S.
Toyota reported July-September profit of 98.7 billion yen ($1.2 billion) on Friday, up dramatically from 21.8 billion yen profit a year earlier but lower than analysts expected. Quarterly sales rose 5.8 percent to 4.807 trillion yen ($59.5 billion).
Toyota Motor Corp. is the only major automaker whose U.S. sales have been sluggish despite a recent onslaught of incentives that have boosted other automakers' results — underlining how its once sterling image continues to be tarnished in that crucial market.
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YEA!!!! GO YOTA!!!!
ReplyDeleteYou know you make a good quality vehicle when the U.S. Media attempts to completely bash Toyota's reputation, yet they still turn an amazing profit!
People trust Toyota because Toyota has always taken care of its customers just like they did with the recalls. My truck was recalled and it was fixed pronto! I will always buy Toyota!
Of course their profits are up - they cut costs to build a "cheaper" vehicle for the same money and now it's coming back to bite them in the rear end!
ReplyDeleteI love Toyota - the best car I have ever owned was an 94 Camry and I still wish I would have never gotten rid of that car but their not building them like they used to!