Toyota's Q3 profit jumps 22% as weak yen helps

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TOKYO :Toyota Motor Corp on Thursday posted a surprise 22 per cent rise in third-quarter operating profit, as a weaker yen and higher sales volumes helped the Japanese automaker overcome a jolt from soaring raw-materials costs. Operating profit for the three months ended Dec. 31 was 956.7 billion yen ($7.28

TOKYO :Toyota Motor Corp on Thursday posted a surprise 22 per cent rise in third-quarter operating profit, as a weaker yen and higher sales volumes helped the Japanese automaker overcome a jolt from soaring raw-materials costs.

The Prius maker said it was striving to quickly evaluate alternative semiconductors and take other measures to secure stable procurement of chips, according to a presentation that accompanied the results. Vehicle sales rose across all major regions, with North America, its biggest market, showing the strongest growth of 16 per cent, double the overall average of 8 per cent gain.As the prolonged global shortage of auto chips enters its third year, some car makers are suffering more than others.

Source: Car News Wire (carnewswire.net)

 

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