Toyota sales nearly double in first quarter

Japan’s Toyota Motor Corp. said quarterly vehicle sales nearly doubled from the year before to 2.3 million vehicles as sales rose in regions including North America, Europe, Japan and the rest of Asia. The company, which was severely affected by the earthquake and tsunami last year, said it expects to set record high global output this year. The company is setting a record in the global auto industry with its group wide production target of 10.05 million vehicles, 28% higher than last year.
Japan’s biggest car maker posted a net profit of JPY 290.35 (US$3.71 billion) in the second quarter (April-June), compared to JPY1.16 billion (US$14.7 million) in the same period a year earlier. (August 3, 2012)