Toyota: Q1 earnings down 18%

(CercleFinance.com) - Toyota has reported sales of 8491 billion yen for Q1 2023 (April to June 2022), up slightly on the same period a year earlier (7935 billion yen).


However, the Japanese car maker announced a big drop in EBIT, from 997 million yen to 578 million yen, in particular due to increased raw materials costs.

As a result, earnings fell 18% to 736 million yen from 897 million yen a year ago.

Over FY 2023 Toyota targets 8.85 million vehicles sold worldwide, unchanged from its previous estimate.


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