CHICAGO Toyota Motor Corp.s net income for the
year ended March 31 more than doubled to 962.1 billion yen
($9.7 billion) on revenues that rose 18.7 percent to 22
trillion yen ($222.3 billion) and vehicle sales that rose 20.7
percent to 8.9 million.
North American vehicle
production last year jumped 31.6 percent in the companys
fiscal year ended March 31 to nearly 1.68 million cars and
light trucks, with sales in the region rising 31.9 percent to
almost 2.5 million units. However, 2011s results were
hurt by natural disasters in Asia that disrupted the global
Net revenues in North America increased 32.3 percent to 6.3
trillion yen ($63.6 billion) and operating income rose 19.1
percent to 221.9 billion yen ($2.2 billion). The operating
income improvement was due largely to rising production volume
and vehicle sales, as well as cost-reduction efforts.
Toyota forecast that its vehicle sales will reach 9.1 million
units for the 2014 fiscal year, an increase of roughly 2.2
percent over fiscal 2013. The Toyota City, Japan-based
automaker also forecast net revenue of 23.5 trillion yen and
net income of 1.4 trillion yen in 2014.
The worlds new car demand is expected to grow,
driven by the recovery of the U.S. market and the development
of the emerging markets, president Akio Toyoda said.