Recession Worries Weigh on Toyota

Increasing sales in emerging markets helped the Japanese auto giant earn a record $4.3 billion last quarter, but profit growth is slowing
A newly-arrived Toyota is displayed ready for sale at the world's largest auto dealership, Longo Toyota, which enjoys continued strong sales after a record quarterly report for Toyota April 24, 2007 in El Monte, California. Photo by David McNew/Getty Images

Another quarter, another set of big, big numbers from Toyota (TM), the world's most profitable automaker. For the three months through Dec. 31 Toyota posted operating profits of $5.6 billion, a rise of 4.7% compared to the same three months in 2006. Sales increased 9.2% to $62.7 billion. Consolidated vehicle sales, meanwhile, increased 126,000 to 2.281 million vehicles. "We posted our highest-ever quarterly results for the third quarter in both revenue and profit, despite the severe business environment," crowed Takeshi Suzuki, a senior managing director at the company, at a press conference in Tokyo.

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