Toyota sees quarterly profit, sales rise, lowers forecast

August 01, 2019 - 10:09 pm

TOKYO (AP) — Toyota has reported a nearly 4% increase in fiscal first quarter profit on improved sales, but the Japanese automaker slightly lowered its full year forecasts because of unfavorable currency exchange rates.

Toyota Motor Corp. reported Friday its April-June profit totaled 682.9 billion yen ($6.4 billion), up from 657.3 billion yen the same period last year.

Quarterly sales rose 3.8% to 7.65 trillion yen ($71 billion).

Consolidated vehicle sales for the period totaled 2.3 million, an increase of more than 67,000 vehicles from the previous year.

By region, vehicle sales rose in Japan, the rest of Asia and Europe but fell in North America, according to the maker of the Prius hybrid, Corolla subcompact and Lexus luxury brand.