The Japanese multinational Toyota, world leader in sales volumeachieved revenues of 210,474 million dollars in the first three fiscal quarters (April to December), improving the turnover of said months of the previous fiscal year by 18%.
The strong rise in turnover was motivated by the high demand for the firm’s models, which has made a strong commitment to hybrid technology, and also by its availability of vehicle stock, a differential factor for customers when it comes to buy a car without having to wait months to receive it.
The company, which presented its economic results for its first nine fiscal months on Thursday, recorded net attributable profit of 14.572 million dollars in the period, which represents a reduction of 18% compared to the same period of the previous year.
Toyota attributes this lower profit in the first three quarters to an increase in costs in general, and in the prices of raw materials in particular, while pointing to “big fluctuations” in its production plans during this period as a result of power outages of key components such as semiconductors and natural disasters.
In addition, the firm’s operating profit contracted 17.1% until December, with a figure of 16.091 million dollars, while sales in those months were close to 6.5 million vehicles worldwide, improving records by 6.4%. interannual and maintaining itself as the world market leader.
In the third fiscal quarter (October to December), Toyota’s attributable net profit was once again affected by the higher costs experienced, since they reached 5,584 million dollars, which represents an 8% decrease, despite the fact that its revenues rose 25 percent.
The company that Koji Sato will stop directing from April 1, replacing Akio Toyoda, has maintained its earnings forecasts for the full fiscal year 2022-2023 (ends in March), despite the negative results recorded in the three first quarters, thanks to the improvement in the supply of chips and shorter delivery times for customers.
Thus, the estimate of the Japanese group contemplates ending the fiscal year with a net attributable profit of 18,101 million dollars, that is, a figure 17% lower than that of the previous year, with income of US$275,979 million.
Nissan also earns less
For its part, the also Japanese nissan has added to the presentation of results of the day with a net profit 42.8% lower in the three fiscal quarters than last year. He fails to respond with a positive figure to the new organization of the alliance with Renaultwhich from now on will exercise equal shareholding and with the same voting rights.
Thus, Nissan obtained a net result of 881 million dollars until December, with a turnover of 57,294 million dollars, a 21.8% year-on-year growth.
The company, like its compatriot Toyota, attributes these lower losses to “strong fluctuations” in currency exchange rates and significant increases in the price of raw materials, although it also suffered the effect of supply chain problems. supply and new covid-19 outbreaks.
For the end of the fiscal year, due to these problems that it is facing, it has revised downward its previous forecast for world registrations of 3.4 million vehicles, although it has maintained its estimates of economic results.
