Toyota profit triples, raises forecast
For the fiscal second quarter, Toyota sold 2.2 million vehicles around the world, up from 1.8 million the same period the previous year.
It now expects to sell 8.75 million vehicles for the full fiscal year through March 31, 2013, up by more than a million vehicles compared to the 7.35 million vehicles sold the previous fiscal year. But the latest projection is 50,000 vehicles fewer than the 8.8 million vehicles Toyota projected in August.
Although Toyota lost 20 billion yen ($250 million) in operating profit from an unfavorable exchange rate, it gained 160 billion yen ($2 billion) through cost- reduction efforts during the latest quarter, it said.
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