Toyota closed the last broken financial year, which ran until April 1, with more profit than a year earlier. This year, the largest car manufacturer in the world expects profit growth again.
In the year leading up to April 1, Toyota generated profits of 2.25 trillion yen, or more than € 17 billion, despite the challenges of the corona crisis. That meant an annual increase of more than 10 percent. This means that the world’s best-selling car manufacturer outperformed its own expectations, even though sales of the brand’s cars fell by 4 percent to more than 9 million units. For the current financial year, Toyota is expecting just a little more profit: 2.3 trillion yen (€ 17.4 billion), which would mean a plus of 2.4 percent. Turnover should be one tenth higher at 30 trillion yen (€ 227 billion).
Toyota expects to be able to grow this year, despite global chip shortages forcing car factories worldwide to pause production. The company said in presenting the annual figures for its broken fiscal year, which ran through March, that it has not yet been too affected by the shortages of parts. This is partly due to the planners of the company. Toyota uses an ingenious system to avoid surprises in terms of stocks. In addition, the company also has close ties with suppliers, whereby it also has interests in some of them. This helps Toyota in times when the demand for parts is greater than the supply.