Toyota Motor Corporation reported impressive financial results for the first quarter of fiscal year 2025, ending June 30, 2024. The company achieved a 12.2% increase in sales revenue, reaching ¥11.84 trillion (approximately $83.65 billion), compared to ¥10.55 trillion ($74.56 billion) in the same quarter last year. This growth was largely attributed to favorable exchange rate fluctuations and effective marketing efforts.
Despite a 3.2% decrease in total vehicle sales, Toyota’s operating income rose by 16.7% to ¥1.31 trillion ($9.26 billion). The company’s net income increased by 1.7% to ¥1.33 trillion ($9.4 billion), bolstered by a ¥370 billion ($2.61 billion) gain from currency exchanges and a ¥70 billion ($494.95 million) boost from marketing strategies.
Segment-wise, automotive sales revenue surged by 11.1% to ¥10.76 trillion ($75.79 billion), while the financial services division saw a remarkable 29.7% increase, generating ¥1.01 trillion ($7.13 billion) in revenue. However, North America experienced a 28.9% decline in operating income due to increased expenses.
Looking ahead, Toyota projects a modest 2% growth in sales revenue for the full fiscal year, totaling ¥46 trillion ($324.85 billion), while anticipating a 19.7% decline in operating income to ¥4.3 trillion ($30.37 billion) due to heightened expenses. The company remains cautious, focusing on cost reductions and efficient resource allocation to maintain its competitive edge.
