Toyota Achieves Record Quarterly Profit Despite Certification Scandal
The automaker's profit rose 1.7% in the first quarter, aided by a weak yen and cost reductions, while sales declined.
- Toyota's April-June profit reached 1.33 trillion yen ($8.9 billion), marking a record for the period.
- A weak yen contributed 370 billion yen ($2.5 billion) to operating profit, offsetting lower sales.
- Production in Japan was disrupted due to certification irregularities, impacting vehicle output.
- Despite challenges, demand for Toyota's hybrid models remained strong globally.
- Toyota maintained its full-year profit forecast at 3.57 trillion yen ($24 billion).