Toyota posts $18B profit on sales growth, cheap yen - CTV News
TOKYO -- Toyota zoomed to a record 2. 17 trillion yen ($18. 1 billion) profit for the fiscal year through March, up 19 per cent from the previous year, buoyed by sales growth in the U. S. and a perk from the cheap yen. Looking ahead, the company announced it's expecting 3. 5 per cent growth in profit to 2. 25 trillion yen ($18. 8 billion) for the fiscal year through March 2016. Since Toyoda, the grandson of the automaker's founder, took the helm in 2009, Toyota... "This year will be decisive in showing whether Toyota can head toward sustainable growth or we will be forced to turn backward," he said, referring to the recall fiasco and the 2008 financial crisis. The maker of the Camry sedan and Prius hybrid has been the world's top-selling automaker for the last three years in the face of tough competition from Volkswagen AG of Germany and General Motors Co. of the U. S. Since the recalls surfaced, Toyoda... Last month, Toyota announced a new plant in Mexico, with eyes on the lucrative North American market, as well as a plant in China, where despite some bumps, long-term growth. Source: www.ctvnews.ca
