Toyota

China overtakes Japan as largest car exporter

Data from a Japanese auto industry association show that China overtook Japan as the world's largest vehicle exporter last year.

The Japan Automobile Manufacturers Association reported Japan exported 4.42 million vehicles in 2023, up 16 percent from a year earlier, while domestic auto sales totaled nearly 4.78 million vehicles.

Toyota Q1 net profit soars to $9.1 billion

Japan's Toyota said yesterday that net profit in its first quarter surged 78 percent as global production rebounded after severe supply disruptions a year ago.

The world's biggest automaker by sales said net profit in the three months to June was 1.31 trillion yen ($9.1 billion) on sales of 10.55 trillion yen, up 24.2 percent from a year ago.

Türkiye seeking to lure more foreign carmakers: Minister

Talks are ongoing with carmakers from Europe and Asia, including China, to lure more investments into Türkiye's automotive sector, Industry and Technology Minister Fatih Kacır has said.

"We are hoping that at least one of them will announce an investment decision by the end of the year," he said.

Toyota to replace Toyoda as CEO

Toyota named Koji Sato president and CEO on Jan. 26, in a surprise reshuffle that sees third-generation chief executive Akio Toyoda step aside to become board chairman of the world's top-selling automaker.

The Japanese automaker said Sato, 53, would also become operating officer when the changes to its executive structure take effect on April 1.

Toyota profit down as chips shortage keeps customers waiting

Toyota's profit fell nearly 18 percent in the April-June quarter from the year before, as a semiconductor shortage that has slammed the auto industry dented production at Japan's top automaker.

Toyota Motor Corp. reported yesterday a quarterly profit of 736.8 billion yen ($5.5 billion), down from 897.8 billion yen the previous year.

Electric car sales may reach 4,500 units this year

If the sales maintain their current pace in the coming months, electric vehicle sales may reach around 4,500 units, according to a business group.

In the first six months of 2022, the number of registered electric vehicles increased by 170 percent from a year ago to 2,413, according to a recent report by the Electric and Hybrid Vehicles Association (TEHAD).

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