Supporting the positive results were mix improvements that raised prices, trimmed marketing incentives, as well as significant cost reduction efforts overcame soaring materials prices since the COVID-19 pandemic. A weaker Yen also helped sales. (AutoInformed: Group Troubles Move Forward Akio Toyoda’s Vision Speech; income-of-18-4-billion/” rel=”noopener” target=”_blank”>Toyota Posts FY2024 Q2 Net Income of $18.4 Billion; Toyota Posts Strong FY 2024 Q1 Results – $9.2 Billion Net)

“By having top managements go down and brainstorm together with frontline workers, we plan to reexamine the purpose, content, safety and quality of our work and strengthen our foothold. Further, we aim to create capabilities that enable us to take on further challenges and plant seeds for the future,” Toyota said in a release.