On Monday Toyota Motor registered a drop in the profits this quarter however still managed to add 9.7 percent to its year to date earnings thus showing signs of recovery from a weaker Yen. With regards to changes in policy of manufacturing car outside its home country, they said there were no immediate plans regardless of the cautions from Donald Trump.
A Marginal Increase In Operational Revenue
Toyota Motor will be recording a drop in their profits compared to last year’s earnings of 2.31 trillion yen ($20 billion); this hasn’t dented their outlook for the next few quarters as they are expecting the Yen to stabilize from the volatile fluctuations seen earlier this year. Yen continues to fall compared to USD forcing the makers to make their projection on 107 yen for a dollar compared to estimate of 103 yen, this has led to major changes to their current projections.
With an expectation of 1.7 trillion yen in profit for the financial year that is a steep decline of 26 percent compared to last year, however with subtle changes in operation it see a 1.85 trillion yen in profit that is 8.8 percent higher than the November 2016 forecasts.
The higher growth in the profits of Toyota in the coming financial year is predicted from increase in sales of its car in North America as the demand for SUV’s and other Sport utility vehicle are at an all time high.
