For the second time during the last three quarters Toyota Motor Corporation outsold its rivals, according to January-September global sales, with the Japanese company close to a record annual profit.
The company announced today that group sales tallied 7.412 million units, up 0.1% from the same period a year ago, as strong sales in the United States offset drops in Thailand and China.
Toyota’s groupwide total includes sales at affiliates Daihatsu and Hino Motors. Toyota’s recent success – analysts forecast it will have a record profit this fiscal year – are a clear sign of how Prime Minister Shinzo Abe’s policies that lowered the yen are a boom for Japan’s exporters and help revive an economy that’s been through three recessions in five years. Large manufacturers are more confident than they’ve been since 2007, and share prices are near the highest in half a decade.
General Motors sold 7.25 million vehicles during the same January to September period, up 4.6 % year-on-year, while Volkswagen climbed 4.8 % to 7.03 million vehicles, according to figures released earlier this month. Toyota regained the global sales crown in 2012 after dropping to third place behind GM and Volkswagen in 2011, following natural disasters in Japan and Thailand. Previously, it had been the leader from 2008 through 2010.
Via Reuters, Bloomberg