Toyota Motor Corporation (TMC)* said today that net income2 increased from 1.171 trillion yen ($8.7 billion)** to 2.589 trillion yen ($18.4 billion) for the Japanese FY 2024 Q2 (April – September 2023) on consolidated vehicle sales of ~4,744,000, an increase of ~585,000 compared to the same period last fiscal year.

“We are grateful for the support of many stakeholders, from production to logistics, sales, and services, including suppliers. As a result of selling each car meticulously at prices that match the product appeal refined through Toyota’s ‘making ever-better cars’ initiative, operating income increased from the same period of the previous fiscal year,” Toyota said.

For the fiscal year ending March 31, 2024, TMC now estimates consolidated vehicles sales will be 9.60 million units. Based on an exchange rate assumption of 141 yen to the U.S. dollar, TMC forecasts consolidated net revenue of 43.0 trillion yen ($305.0 billion), operating income of 4.5 trillion yen ($31.9 billion), income before income taxes of 5.55 trillion yen ($39.4 billion), and net income of 3.95 trillion yen ($28.0 billion).