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Toyota's profit zooms on sales growth and recovery from disaster

August 03, 2012 - 2:33 AM

TOKYO - Toyota says April-June profit zoomed to 290.3 billion yen (US$3.7 billion) from 1.1 billion yen on a jump in global sales as the Japanese automaker makes a comeback from a disaster plagued 2011.

Toyota Motor Corp. said today its quarterly sales soared nearly 60 per cent to 5.5 trillion yen ($70.5 billion).

All Japanese automakers suffered a sales crash after the earthquake and tsunami in northeastern Japan in March last year.

Toyota said quarterly vehicle sales nearly doubled from the year before to 2.3 million vehicles as sales rose in North America, Japan, the rest of Asia, Europe and other regions, including Africa and South America.

Toyota said it carried out cost cuts totalling 70 billion yen ($897 million) for the quarter.

News from © The Associated Press, 2012
The Associated Press

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