Toyota Motor – the world’s largest automaker – posted impressive operating results for the 2024 Japanese fiscal year (¥5 Trillion 352.9B) with an operating profit margin of ~11% up from ~7% a year ago. This appear to be the largest profit ever posted by a Japanese company. Consolidated vehicle sales were 9,443,000, which was 107.0% of FY 2023 volume. (AutoInformed: New Toyota Motor President Koji Sato on Evolution; Toyota Cleans Daihatsu House Over False Tests)
“We faced many challenges, including those posed by COVID-19 and production restrictions due to tight semiconductor supplies, but the results showed the efforts of each front-line employee, including those of our suppliers and dealers, each recognized what they needed to do and acted accordingly, and a management structure and profit structure that was built to be resilient to crises,” said Koji Sato, president.
Click to enlarge.
Consolidated Financial Results
- Sales revenues of ¥45 trillion 95.3 billion yen.
- Operating income of ¥5 trillion 352.9 billion yen.
- Income before income taxes of ¥6 trillion 965.0 billion yen.
- Net income of ¥4 trillion 944.9 billion yen.
- Sales volumes increased everywhere , except in Japan, because if the suspension of shipments by Daihatsu Motor Toyota Industries Corporation.
- Sales of electrified vehicles, mainly HEVs, at 37.4% of total sales.
However, Toyota is forecasting a decline in profits for FY 2025 based on roughly the same volumes but with increased costs incurred by the ongoing development of new vehicles.
About Ken Zino
Ken Zino, editor and publisher of AutoInformed, is a versatile auto industry participant with global experience spanning decades in print and broadcast journalism, as well as social media. He has automobile testing, marketing, public relations and communications experience. He is past president of The International Motor Press Assn, the Detroit Press Club, founding member and first President of the Automotive Press Assn. He is a member of APA, IMPA and the Midwest Automotive Press Assn.
He also brings an historical perspective while citing their contemporary relevance of the work of legendary auto writers such as Ken Purdy, Jim Dunne or Jerry Flint, or writers such as Red Smith, Mark Twain, Thomas Jefferson – all to bring perspective to a chaotic automotive universe.
Above all, decades after he first drove a car, Zino still revels in the sound of the exhaust as the throttle is blipped during a downshift and the driver’s rush that occurs when the entry, apex and exit points of a turn are smoothly and swiftly crossed. It’s the beginning of a perfect lap.
AutoInformed has an editorial philosophy that loves transportation machines of all kinds while promoting critical thinking about the future use of cars and trucks.
Zino builds AutoInformed from his background in automotive journalism starting at Hearst Publishing in New York City on Motor and MotorTech Magazines and car testing where he reviewed hundreds of vehicles in his decade-long stint as the Detroit Bureau Chief of Road & Track magazine. Zino has also worked in Europe, and Asia – now the largest automotive market in the world with China at its center.
Toyota Motor Posts Record FY24 Net Income of $39.1B
Toyota Motor – the world’s largest automaker – posted impressive operating results for the 2024 Japanese fiscal year (¥5 Trillion 352.9B) with an operating profit margin of ~11% up from ~7% a year ago. This appear to be the largest profit ever posted by a Japanese company. Consolidated vehicle sales were 9,443,000, which was 107.0% of FY 2023 volume. (AutoInformed: New Toyota Motor President Koji Sato on Evolution; Toyota Cleans Daihatsu House Over False Tests)
“We faced many challenges, including those posed by COVID-19 and production restrictions due to tight semiconductor supplies, but the results showed the efforts of each front-line employee, including those of our suppliers and dealers, each recognized what they needed to do and acted accordingly, and a management structure and profit structure that was built to be resilient to crises,” said Koji Sato, president.
Click to enlarge.
Consolidated Financial Results
However, Toyota is forecasting a decline in profits for FY 2025 based on roughly the same volumes but with increased costs incurred by the ongoing development of new vehicles.
About Ken Zino
Ken Zino, editor and publisher of AutoInformed, is a versatile auto industry participant with global experience spanning decades in print and broadcast journalism, as well as social media. He has automobile testing, marketing, public relations and communications experience. He is past president of The International Motor Press Assn, the Detroit Press Club, founding member and first President of the Automotive Press Assn. He is a member of APA, IMPA and the Midwest Automotive Press Assn. He also brings an historical perspective while citing their contemporary relevance of the work of legendary auto writers such as Ken Purdy, Jim Dunne or Jerry Flint, or writers such as Red Smith, Mark Twain, Thomas Jefferson – all to bring perspective to a chaotic automotive universe. Above all, decades after he first drove a car, Zino still revels in the sound of the exhaust as the throttle is blipped during a downshift and the driver’s rush that occurs when the entry, apex and exit points of a turn are smoothly and swiftly crossed. It’s the beginning of a perfect lap. AutoInformed has an editorial philosophy that loves transportation machines of all kinds while promoting critical thinking about the future use of cars and trucks. Zino builds AutoInformed from his background in automotive journalism starting at Hearst Publishing in New York City on Motor and MotorTech Magazines and car testing where he reviewed hundreds of vehicles in his decade-long stint as the Detroit Bureau Chief of Road & Track magazine. Zino has also worked in Europe, and Asia – now the largest automotive market in the world with China at its center.