Toyota annual net profit jumps 10.3%

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Toyota's full-year net profit jumped 10.3 percent even as the pandemic hit the auto industry, the Japanese firm said Wednesday, projecting growth despite the

"Toyota's performance was outstanding, compared with its rivals," said Satoru Takada, auto analyst at Tokyo-based research and consulting firm TIW, told AFP before the announcement.The pandemic has taken a heavy toll on the global auto sector but demand recovered swiftly in the second half of last year, most notably in the United States and China.

Supply disruptions including a fire at a Japanese factory, an extreme cold snap in the United States and a drought in Taiwan have compounded the mismatch between demand and availability. Semiconductors are a key component in modern cars and the shortage has prompted major carmakers to reduce production around the world.has been significantly less affected than its rivals, thanks in part to a forward planning system intended to protect it from unexpected supply chain disruptions.

It also has close ties with its suppliers, including stakes in some of them, that have given it leverage and priority at a time when demand far outstrips supply, experts say.'s smaller rival Nissan said it narrowed its net loss to 448.7 billion yen for the fiscal year to March, recovering from the pandemic.

But Nissan expects to stay in the red for the current year, warning its outlook remained clouded by the global chip shortage.

 

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پاکستان تازہ ترین خبریں, پاکستان عنوانات

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