TOKYO (dpa-AFX) – The Japanese car giant Toyota (Toyota Motor) posted a drop in profits in the first nine months of the current financial year due to the ongoing shortage of chips. As the industry leader announced on Thursday, net profit for the months of April to December was around 1.9 trillion yen (13.5 billion euros). This is a decrease of 18 percent compared to the same period last year. Revenue rose 18 percent to 27.5 trillion yen.
The group, which also includes the small car specialist Daihatsu and the commercial vehicle manufacturer Hino Motors, continues to expect net profit of around 2.4 trillion yen for the full fiscal year (March 31), a decrease of 17.2 percent compared to the previous year previous year would be. In terms of global sales, the Toyota Group was once again able to maintain its top position in relation to the past calendar year and, despite a slight decline, kept its rival Volkswagen (Volkswagen (VW) vz) at a distance.
Toyota sold 10.48 million vehicles worldwide. That is 0.1 percent less than in the previous year. Despite the supply bottlenecks for semiconductors as a result of the corona pandemic, the group kept its production at a high level in 2022. It rose by 5.3 percent over the previous year to 10.61 million vehicles. Volkswagen had to accept a drop in sales of 7.0 percent to almost 8.26 million vehicles last year due to the global chip crisis./ln/DP/stk
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