Toyota Expects 80% Drop in Profits

By Marko Vidrih on The CapitalThe largest Japanese carmaker expects an 80 percent drop in profits this year.Toyota expects the lowest operating profit in nearly a decade this year due to the global impact of the corona pandemic. The largest Japanese automaker announced an operating profit of 500 billion yen (about $4.65 billion) for the fiscal year running until March 2021. This corresponds to a decline of 80 percent compared to the past financial year, in which Toyota generated 2.4 trillion yen.The management of the world’s second largest car group after Volkswagen assumes that global car sales will reach 60 percent of the previous year’s level from April to June. For itself, Toyota predicts 8.9 million deliveries in its fiscal year after 10.46 million in the past year.Author: Marko VidrihFeatured image credit: UnsplashFintech MarksThe Capital Expects 80% Drop in Profits was originally published in The Capital on Medium, where people are continuing the conversation by highlighting and responding to this story.
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Author: Marko Vidrih

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