Toyota Motor ADR

Toyota Motor Corporation delivered a positive result and managed an all-around beat in the last quarter. The company’s positive performance was attributed to the careful sale of each vehicle, aligning prices with product appeal, and a continuous commitment to improve car quality. Consolidated vehicle sales reached 114.1% of the previous fiscal year, totaling 4,744,000 units. Toyota and Lexus brand vehicle sales amounted to 5,172,000 units, representing 109.1% of the same period last fiscal year. Electrified vehicles, particularly HEVs, constituted 35.3% of sales. Regionally, Japan, North America, Europe, and Asia experienced year-on-year increases in operating income, driven by strong sales and competitive pricing. The business in China maintained sales volume strength, especially in HEVs. The financial services business, however, saw a decrease in operating income due to margin reductions. Looking ahead to fiscal year 2024, Toyota’s team anticipates a total electrification rate of 37.2%. Future investments target BEVs, hydrogen, software, and energy, expanding Toyota’s business domain into a comprehensive mobility company. Engineering efforts combine manufacturing techniques with digital technologies to sow seeds for the future.