Toyota Raises Annual Profit Forecast Despite Declining Quarterly Earnings

The automaker revised its full-year profit outlook upward to ¥4.7 trillion while reporting a 28% drop in third-quarter operating profit.

Toyota increased its full-year operating income forecast by ¥400 billion to ¥4.7 trillion for the fiscal year ending March 2025.
The company's updated projection includes an anticipated sales revenue of ¥47 trillion with a 10% profit margin, up from the previously estimated 9.3%.
Third-quarter operating profit fell 28% year-over-year to ¥1.22 trillion, missing analyst estimates of ¥1.39 trillion, due to lower sales and output volumes.
Despite a 4% decline in 2024 vehicle sales to 10.8 million units, Toyota retained its position as the world's best-selling automaker for the fifth consecutive year.
Toyota continues to focus on hybrid vehicles, with plans to expand EV production in China, while competitors like Tesla and BYD dominate the fully electric vehicle market.