Take our user survey and make your voice heard.
business

Toyota's profit rises 78% to ¥1.3 trillion in April-June as parts crunch eases

22 Comments
By YURI KAGEYAMA

The requested article has expired, and is no longer available. Any related articles, and user comments are shown below.

© Copyright 2023 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission.

©2024 GPlusMedia Inc.

22 Comments
Login to comment

Amazing what your profits can be when you pay your army of haken and ukeoi worker peanuts day in, day out. Trebles all round!

-7 ( +14 / -21 )

So happy for all these big corps that made billions ,while the average Joe gets shafted

0 ( +16 / -16 )

In the US, Toyota workers make more on average than GM workers.

5 ( +12 / -7 )

In the US, Toyota workers make more on average than GM workers.

Not being outsourced three times over probably has something to do with it! It's insane the amount and levels of outsourcing in Japan; a true cancer on society here.

5 ( +10 / -5 )

Toyota's ¥1.3 trillion quarter profits are good news for shareholders and executives, only.

In the US, Toyota workers make more on average than GM workers.

Met once a Japanese that worked for a Toyota factory, his work conditions neared paid slavery.

-5 ( +11 / -16 )

LOL , not bad for a company that is not relevant. LOL

-13 ( +2 / -15 )

 Toyota sold 29,000 EVs

Yet Toyota had record profits. So much for EVS.

-11 ( +2 / -13 )

Oh, my! This article is missing the below key information:

--

Toyota also benefited from a weaker yen. The Japanese currency fell about 8 yen against the U.S. dollar during the year through June, according to Bank of Japan data, amid the widening interest rate differential between Japan and the United States.

Every 1-yen fall against the dollar boosts the automaker's operating profits by 45 billion yen, Toyota says.

--

So nearly 400 billion yen of the 600 billon yen increase in profits was attributed to yen depreciation.

-2 ( +10 / -12 )

Great to see them in most of worlds was.

-4 ( +0 / -4 )

While they pay many of their factory workers pittance!!

Disgusting company.

-6 ( +9 / -15 )

Toyota workers make more on average than GM workers.

They earn roughly the same hourly rate, but GM workers have far bigger benefits like healthcare, pensions, etc.

-2 ( +8 / -10 )

Things are not looking good for Toyota in the long term.

The US EV market share in 1st half of 2023.

https://www.cnbc.com/2023/07/07/ev-sales-hyundai-overtakes-gm-but-teslas-us-dominance-continues.html

1) Tesla 336,892 259,790 30%

2) Hyundai-Kia 38,457 34,518 11%

3) General Motors 36,322 7,820 365%

4) Volkswagen 26,538 12,424 114%

5) Ford 25,709 22,979 12%

Hyundai is no. 2 even though it's the only EV vendor out of top 5 to NOT benefit from the $7,500 federal EV tax credit due to the wording of the Inflation Reduction Act that restricts EVs assembled in the US, Canada, and Mexico to benefit even though the KORUS FTA is supposed to treat Korean automakers the same as US domestic automakers in terms of benefits. Hyundai manages to hold onto its US EV market share through sheer competitiveness of its product without the $7,500 federal tax credit, where Hyundai EVs are frequently rated to be superior to Teslas by auto journalists.

So when Hyundai's US EV plants are set to go online in 2025, Hyundai's US EV market share is expected to explode.

Now, where are the Japanese in the US EV market share ranking? Well they don't rank at all, making US press to ask if the Japanese have given up on the US market as they will have no future 10 years from today. And that indeed appears to be the case with Mazda.

https://thedriven.io/2023/08/02/mazda-in-reverse-gear-as-it-discontinues-ev-in-favour-of-hybrids/

Mazda in reverse gear as it discontinues EV in favour of hybrids

Japanese automaker Mazda is discontinuing the MX-30 electric SUV in the United States, less than two years after the company launched the electric crossover with only a 35.5kWh battery.

So unpopular has the Mazda MX-30 EV been, that it appears only to have been sold in California and saw only 66 units sold so far this year.

-12 ( +4 / -16 )

Excellent news. Hopefully they'll be able to boost peoples bonuses. A weak yen isn't all bad. I'm getting a lot more for my dollars now. Importers might have to pay more but I think it is good news for Japanese exporters. The bonuses will either be saved or spent in the domestic market.

-3 ( +8 / -11 )

So many people making assumptions in the comments.

1 ( +8 / -7 )

Average Japanese people will get nothing from this, just the big shots

-2 ( +4 / -6 )

Car prices have risen 40% and up. Workers salaries probably no more than 5%. Even considering the troubles and higher prices of the parts the margin they make is huge. Add the weak yen as mentioned above and I'm not sure we have to be happy with this news.

-1 ( +3 / -4 )

Peter Neil

In the US, Toyota workers make more on average than GM workers.

Nonsense. UAW members make more, on average, than non-union workers in right-to-work-for-less states, which is where Toyota and other foreign automakers have their US factories.

2 ( +6 / -4 )

Sultan of Swing

LOL , not bad for a company that is not relevant. LOL

They are currently (2023 1H) the largest-selling car brand in the world.

What makes them "not relevant" in your...ummm...mind?

0 ( +4 / -4 )

They are currently (2023 1H) the largest-selling car brand in the world. 

What makes them "not relevant" in your...ummm...mind?

I believe he's making a reference to the anti-Japan commenters that frequently claim that Japan is irrelevant.

0 ( +1 / -1 )

The outlook is not bad for Toyota, combined with the weaker yen.

Koreans who want Toyota to perish, put up data only for EVs, but it is still gasoline cars and hybrids that are selling, not EVs after all.

EV infrastructure development is also delayed, and it is only positioned as a second car.

Toyota is developing all kinds of engines such as EV, hydrogen, gasoline, and hybrid. If Toyota launches cremation vehicles like Korean cars before the EV market matures, it will lose its brand value.

And we can't issue tens of thousands of recalls like Korean cars.

Development of all-solid-state batteries is currently underway, and it will take some time before they are installed in Toyota's EVs and released, but it is not a story in the distant future.

It is natural in Japan to provide safe and secure products, which is different from Korean cars that are released even if they have defects.

0 ( +0 / -0 )

Login to leave a comment

Facebook users

Use your Facebook account to login or register with JapanToday. By doing so, you will also receive an email inviting you to receive our news alerts.

Facebook Connect

Login with your JapanToday account

User registration

Articles, Offers & Useful Resources

A mix of what's trending on our other sites