Toyota Motor reports impressive rise in quarterly profit

Toyota Motor reports impressive rise in quarterly profit

World’s second largest auto maker Toyota Motor has posted a near-20 percent rise in quarterly profit. The company gained from impressive sales in both US and European markets.

With this the company has now kept its forecasts for a seventh straight year of record earnings.

The company is increasingly becoming a dominating player in some of the biggest auto markets in the world. They are on the verge of overtaking GM in the US market to become the biggest automaker in the world.

Toyota is also benefitting from launching some innovative products like their Prius Hybrid car and the RAV4 crossover, Lexus LS and Camry sedans.

Their Camry continues to remain the top-selling car in the U.S. market. Toyota also happens to be the world’s most valuable automaker with a market worth of $230 billion.

Toyota Senior Managing Director Takeshi Suzuki spoke about their aim for the near future: “We want to do a little bit better than 2.2 trillion yen (operating profit) since the yen is weaker.”