Toyota Reports Record Quarterly Profit Sales, Eyes Number One Spot

In Tokyo: After taking the number two spot from Ford, Toyota is now hot on the heels of General Motors. The giant Japanese automaker now has its eyes on the number one spot from the largest automobile manufacturer in the world. After recently reporting a 7.3% jump in quarterly profit as a result of its booming sales in North America and Europe offsetting the sluggish demand in Japan, Toyota Motor Company is getting closer to achieving its goals.
Toyota a group net profit of 426.8 billion . Yen, or $ 3.6 billion U.S. dollars in three months (until 31 December), an increase of 397.6 billion yen the same period the previous year.
The car manufacturers & 39; s quarterly sales rose a solid 15.2% to 6.15 trillion yen, or $ 51.2 billion U.S. dollars from 5.33 trillion yen a year ago. The remarkable sales, which Toyota was the result of a sudden influx of demand for its converted RAV4 sport utility vehicle and Camry mid-sized sedan in North America. The strong demand for the Yaris compact in Europe has also significantly contributed to its increase in sales.
According to Koji Endo, auto analyst at Credit Suisse First Boston Securities in Tokyo, Toyota & 39; s " Figures are super, super strong. To be honest, it& 39;s hard to find what bad at this point. "
Senior Managing Director Takeshi Suzuki said that the high sales figures back that Toyota wins in each quarter is the result of the company& 39;s unwavering efforts in the areas of marketing quality products.
With the increasing demand for Toyota products in the United States, it is not surprising if the car manufacturers are planning to build another factory to keep with the strong demand. According to American newspapers, the sites tested by ToMoCo for its next factory site are Chattanooga, Tenn.., Marion, and Ark. The automaker has not released an official statement on the matter.
Toyota is known for reliable, fuel-efficient cars and the rise in oil prices has continued to increase its sales. It is also a leader in the production of hybrid vehicles which use electricity and gasoline. In terms of profitability, Toyota has long beaten General Motors Corporation, but in the form of annual worldwide vehicle production ToMoCo only second to GM.
Last month, Toyota reported that the global automotive production in rank 9 million in 2006 to 9018 million Vehicles marking the fifth continuous growth. On the other hand, General Motors and its group of car manufacturers have 9.18 million vehicles worldwide in 2006 approximately 162000 vehicles more than their Japanese rival.
Toyota along with its Lexus luxury line has been able to surpass DaimlerChrysler AG as the number 3 auto seller in the U.S. for the first time in 2006. The company holds its vehicle sales forecast for the fiscal year ending 31st March to 8.47 million vehicles. The car manufacturer & 39; vehicle production increased by 9% to 2.09 million units in the quarter.
ToMoCo has also explained that the weak yen increases the value of overseas earnings adding 30 billion yen or $ 250 million U.S. dollars compared to the third quarter, the result of car manufacturers. The measures to reduce the company have also contributed another 20 billion yen or $ 167 million U.S. dollars to the company results. Toyota is also its forecast for the fiscal year to March with its forecast profit of 1.55 trillion yen ($ 12.9 billion U.S. dollars) or 23.3 trillion yen ($ 193 billion) sales.
The question is: Will General Motors, the world & 39; Numero Uno and producer of the popular brand of car parts such as GM door handle Toyota can take away his title?



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