Subscribe Login
Jamaica Observer
ePaper
The Edge 105 FM Radio Fyah 105 FM
Jamaica Observer
ePaper
The Edge 105 FM Radio Fyah 105 FM
    • Home
    • News
      • Latest News
      • Cartoon
      • International News
      • Central
      • North & East
      • Western
      • Environment
      • Health
      • #
    • Business
      • Business Bites
      • Social Love
    • Sports
      • Football
      • Basketball
      • Cricket
      • Horse Racing
      • World Champs
      • Commonwealth Games
      • FIFA World Cup
      • Olympics
      • #
    • Videos
    • Entertainment
      • Music
      • Movies
      • Art & Culture
      • Bookends
      • #
    • Lifestyle
      • Page2
      • Food
      • Tuesday Style
      • Food Awards
      • JOL Takes Style Out
      • Design Week JA
      • Black Friday
      • #
    • All Woman
      • Home
      • Relationships
      • Features
      • Fashion
      • Fitness
      • Rights
      • Parenting
      • Advice
      • #
    • Obits
    • Classifieds
      • Employment
      • Property
      • Motor Vehicles
      • Place an Ad
      • Obituaries
    • More
      • Games
      • Elections
      • Jobs & Careers
      • Study Centre
      • Jnr Study Centre
      • Letters
      • Columns
      • Advertorial
      • Editorial
      • Supplements
      • Webinars
    • Home
    • News
      • Latest News
      • Cartoon
      • International News
      • Central
      • North & East
      • Western
      • Environment
      • Health
      • #
    • Business
      • Business Bites
      • Social Love
    • Sports
      • Football
      • Basketball
      • Cricket
      • Horse Racing
      • World Champs
      • Commonwealth Games
      • FIFA World Cup
      • Olympics
      • #
    • Videos
    • Entertainment
      • Music
      • Movies
      • Art & Culture
      • Bookends
      • #
    • Lifestyle
      • Page2
      • Food
      • Tuesday Style
      • Food Awards
      • JOL Takes Style Out
      • Design Week JA
      • Black Friday
      • #
    • All Woman
      • Home
      • Relationships
      • Features
      • Fashion
      • Fitness
      • Rights
      • Parenting
      • Advice
      • #
    • Obits
    • Classifieds
      • Employment
      • Property
      • Motor Vehicles
      • Place an Ad
      • Obituaries
    • More
      • Games
      • Elections
      • Jobs & Careers
      • Study Centre
      • Jnr Study Centre
      • Letters
      • Columns
      • Advertorial
      • Editorial
      • Supplements
      • Webinars
  • Home
  • News
    • International News
  • Latest
  • Business
    • Business Bites
  • Cartoon
  • Games
  • Food Awards
  • Health
  • Entertainment
    • Bookends
  • Regional
  • Sports
    • Sports
    • World Cup
    • World Champs
    • Olympics
  • Videos
  • Career & Education
  • Classifieds
  • All Woman
  • Environment
  • Webinars
  • More
    • Football
    • Elections
    • Letters
    • Advertorial
    • Columns
    • Editorial
    • Supplements
  • Epaper
  • Design Week
Toyota profit jumps 70% despite sales slip
Auto
November 6, 2013

Toyota profit jumps 70% despite sales slip

TOKYO (AP) — Toyota’s quarterly profit soared 70 per cent, and the world’s top-selling automaker raised its earnings forecast, as cost cuts and the weaker Japanese yen compensated for slightly weaker vehicle sales. 

The Tokyo-based maker of cars such as the Prius and the Camry said Wednesday its July-September net profit rose to 438.4 billion yen (US$4.4 billion) from 257.9 billion yen a year earlier.

Profits at Japanese automakers have surged in yen terms as the Japanese currency weakened against the US dollar over the past year, helped by a mammoth Bank of Japan effort to expand the money supply and ignite inflation to end years of economic stagnation.

Nissan Motor Company, Japan’s second-largest automaker, booked only a two per cent increase in quarterly profit, but without the bump from the yen its situation would have been worse. Honda’s quarterly profit rose 46 per cent and earnings at mid-size automaker Mitsubishi Motor Corporation nearly tripled. 

A year ago, the yen was trading at about 79 to the US dollar. Now it is just under 100 to the US dollar. Any further substantial gains in profits for Japan’s auto industry will have to come from cost cuts, stronger sales or other competitive improvements. 

Toyota Motor Corporation has been the biggest beneficiary of the weaker yen, gaining 280 billion yen (US$2.8 billion) in net income in the latest quarter from foreign exchange effects.

The automaker raised its earnings forecast for the fiscal year ending March 2014 to 1.67 trillion yen ($16.9 billion). But it kept its sales forecast at 9.1 million vehicles, anticipating that higher than expected sales in Japan, North America and Europe will be countered by lower sales in Asia. 

Quarterly sales slipped to 2.24 million vehicles from 2.25 million vehicles a year earlier.

Toyota last month said its global sales for January-September this year totaled 7.41 million vehicles, little changed from the previous year but outpacing General Motors to keep its lead as the world’s top-selling automaker.  

GM lost the global sales throne to Toyota for the first time in 2008 but retook the crown in 2011, when Toyota’s plants were stymied by an earthquake and tsunami in northeastern Japan that damaged parts suppliers. Toyota recovered the lead last year.

While rivals GM and Germany’s Volkswagen AG have been growing in China, Toyota’s sales have suffered from anti-Japanese sentiment that flared up last year over territorial disputes.  

Toyota’s growth has come largely from the popularity of the Camry, Corolla and Tundra in the US. The company’s sales number includes heavy trucks made by Toyota’s group company Hino Motors, so the competition is hotter when such models, which GM lacks, are excluded from Toyota’s tally.

{"website":"website"}{"jamaica-observer":"Jamaica Observer"}
0 Comments · Make a comment

ALSO ON JAMAICA OBSERVER

Jamaicans urged to dispose of waste responsibly
Latest News, News
Jamaicans urged to dispose of waste responsibly
September 15, 2026
KINGSTON, Jamaica — Minister of Local Government and Community Development Desmond McKenzie is urging Jamaicans to take greater responsibility for the...
{"jamaica-observer":"Jamaica Observer"}
Artists exit Ed Sheeran tour in solidarity with Macklemore pro-Palestinian comments
International News, Latest News
Artists exit Ed Sheeran tour in solidarity with Macklemore pro-Palestinian comments
September 15, 2026
LOS ANGELES, United States (AFP)—The artist Finneas and three other supporting acts announced they had quit British superstar Ed Sheeran's tour on Tue...
{"jamaica-observer":"Jamaica Observer"}
JFJ seeks clarity on Gov’t plan to build maximum security prison
Latest News, News
JFJ seeks clarity on Gov’t plan to build maximum security prison
September 15, 2026
KINGSTON, Jamaica — Human rights lobby group Jamaicans for Justice (JFJ) is calling for greater clarity surrounding the government’s proposed plan to ...
{"jamaica-observer":"Jamaica Observer"}
Fourth measles-related death reported in US as outbreak grows
Latest News, News
Fourth measles-related death reported in US as outbreak grows
September 15, 2026
WASHINGTON, United States (AFP)—Health authorities in the eastern United States (US) state of Pennsylvania have confirmed a fourth death linked to mea...
{"jamaica-observer":"Jamaica Observer"}
Suicide cases climb 15.8 per cent, men hardest hit
Latest News, News
Suicide cases climb 15.8 per cent, men hardest hit
Vanassa McKenzie, Observer Online reporter, mckenziev@jamaicaobserver.com 
September 15, 2026
Jamaica has recorded a notable 15.8 per cent increase in reported suicide cases through September 7 of this year, compared to the corresponding period...
{"jamaica-observer":"Jamaica Observer"}
Newell donates second vehicle to Horace Clarke High auto department
Latest News, News
Newell donates second vehicle to Horace Clarke High auto department
September 15, 2026
ST MARY, Jamaica —Member of Parliament for St Mary Central Omar Newell has handed over a second vehicle to the Horace Clarke High School automotive de...
{"jamaica-observer":"Jamaica Observer"}
Espi saves Real Madrid with late winner at Elche
International News, Latest News
Espi saves Real Madrid with late winner at Elche
September 15, 2026
ELCHE, Spain (AFP)—Real Madrid substitute Carlos Espi snatched his team a last-gasp 3-2 win at Elche on Tuesday to pull them level with Barcelona at t...
{"jamaica-observer":"Jamaica Observer"}
Health fair brings dental, optical care to National Heroes Park communities
Latest News, News
Health fair brings dental, optical care to National Heroes Park communities
September 15, 2026
KINGSTON, Jamaica —Some 35 children from surrounding communities of the Good Samaritan Inn drop-in centre at National Heroes Park benefited from free ...
{"jamaica-observer":"Jamaica Observer"}
❮ ❯

Polls

HOUSE RULES

  1. We welcome reader comments on the top stories of the day. Some comments may be republished on the website or in the newspaper; email addresses will not be published.
  2. Please understand that comments are moderated and it is not always possible to publish all that have been submitted. We will, however, try to publish comments that are representative of all received.
  3. We ask that comments are civil and free of libellous or hateful material. Also please stick to the topic under discussion.
  4. Please do not write in block capitals since this makes your comment hard to read.
  5. Please don't use the comments to advertise. However, our advertising department can be more than accommodating if emailed: advertising@jamaicaobserver.com.
  6. If readers wish to report offensive comments, suggest a correction or share a story then please email: community@jamaicaobserver.com.
  7. Lastly, read our Terms and Conditions and Privacy Policy

Recent Posts

Archives

Facebook
Twitter
Instagram
Tweets

Polls

Recent Posts

Archives

Logo Jamaica Observer
Breaking news from the premier Jamaican newspaper, the Jamaica Observer. Follow Jamaican news online for free and stay informed on what's happening in the Caribbean
Featured Tags
  • Editorial
  • Columns
  • Health
  • Auto
  • Business
  • Letters
  • Page2
  • Football
Categories
  • Business
  • Politics
  • Entertainment
  • Page2
  • Business
  • Politics
  • Entertainment
  • Page2
Ads
img
Jamaica Observer, © All Rights Reserved
  • Home
  • Contact Us
  • RSS Feeds
  • Feedback
  • Privacy Policy
  • Editorial Code of Conduct