2006 Lexus GS430 by TCC Team (2/6/2005)
A fresh stab at the 5-Series/E-Class stalwarts.
Q&A: Toyota President Fujio Cho by TCC Team (2/6/2005)
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Lexus Eyes Performance Crowd by TCC Team (2/6/2005)
Toyota’s luxury division ponders how to best add more go-fast buzz.
Toyota Motor Corp. posted a smaller than expected 3.5-percent increase in operating income for the third-quarter operating profit but analysts clearly were willing to give the Japanese giant the benefit of the doubt.
Nevertheless, the giant automaker’s executives also said they still expected to come close to matching the $16 billion operating profit Toyota posted last March when it closed the books on fiscal 2004.
Meanwhile, both the company’s revenues and profits grew during the third quarter. Revenue hit almost $46 billion and operating income topped $4.2 billion, while net income was roughly $2.9 billion.
“During the third quarter, we exceeded our calendar-year sales targets in every region,” said Ryuii Araki, TMC executive vice president. “At the same time, we were able to offset the negative effects of currency fluctuations and other factors by implementing initiatives aimed at further growth, including cost reduction and improved operational efforts,” he said.
“With strong sales momentum world wide, we will continue to work hard to achieve last year’s profit levels,” said Arkai, who also noted the company is continuing to gain market share in key markets.
In the company’s home market of
Sales in all other regions grew by 20 percent during the quarter.
Only last week, the company opened its new truck plant in