Recession Worries Weigh on Toyota
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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