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Toyota net profit falls on weak sales in North America NHK

Toyota Motor says its group net profit fell in the first half of the fiscal year. The company saw weak results in North America as a test data scandal disrupted supply.

Japan's largest automaker says sales came to 23.3 trillion yen, or about 151 billion dollars, which is up 6 percent from a year ago. But net income fell 26 percent to 1.9 trillion yen, or 12.4 billion dollars.

Toyota's sales in North America lagged as production of some models was halted due to the falsification of performance test data needed for government certification. The situation also dragged on sales in Japan.

Japanese automaker Honda Motor also saw earnings fall for the six-month period ending in September as its business in China struggled.

The company says sales grew over 12 percent to a record 10.8 trillion yen, or about 70 billion dollars.

But net profit tumbled 20 percent from a year earlier to 495 billion yen, or about 3.3 billion dollars.

Sales of the firm's gasoline and hybrid models in China were undercut by lower prices for electric vehicles.
Summary
Toyota Motor reports a 26% decline in net profit for the first half of fiscal year, largely due to supply disruptions from a data scandal in North America. Sales reached 23.3 trillion yen, up 6%, but earnings dropped to 1.9 trillion yen. Honda Motor also saw a 20% decrease in net profit amidst
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ID: 5b252dcb-95e2-470a-911a-c803e7b6d92e

Category ID: nhk

URL: https://www3.nhk.or.jp/nhkworld/en/news/20241106_B05/

Created: 2024/11/06 19:00

Updated: 2025/12/08 09:09

Last Read: 2024/11/07 08:03