On February 9, Toyota Motor (TM.US) announced its financial results for the first three quarters of fiscal 2022 (April-December 2021 calendar year).
During the reporting period, Toyota Motor's sales revenue was 23.27 trillion yen (about 1.28 trillion yuan), an increase of 19.2% year-on-year, and the net profit was 232 million yen (about 12.7721 million yuan).
Toyota said in its earnings report that despite negative factors such as semiconductor shortages and a sharp increase in raw material costs, the company achieved higher sales and profits at this stage due to efforts in sales, marketing and supply chain.
By region, Toyota's operating profit in all regions of the world has increased. Operating profits in Japan, North America, and Asia were 1.2 trillion yen (about 66.1 billion yuan), 503.9 billion yen (about 27.77 billion yuan), and 489.9 billion yen (about 27 billion yuan), respectively.
In terms of deliveries, in the first three quarters, Toyota sold a total of 6.096 million vehicles worldwide, an increase of 112.1% year-on-year, while Toyota and Lexus brand vehicles sold 7.155 million units, an increase of 108% year-on-year.
Toyota's main markets were Japan and North America, with 1.427 million units and 1.805 million units sold, respectively, 760,000 units in Europe and 1.118 million units in Asia, and 986,000 units sold in other regions, up 138.1% year-on-year, making it the fastest growing region.
Toyota expects to produce 11 million vehicles worldwide in fiscal year 2022, setting a new record for its production program. However, due to supply chain impacts such as chip shortages, the company lowered its production target for fiscal 2022 from the previous 9 million units to 8.5 million units.
The president "punched in the face" and transformed pure electricity
In addition, Toyota also specifically mentioned in the financial report that from April to December 2021, Toyota's sales of new energy vehicles accounted for 27.7% of total sales. However, the financial reporter noted that Toyota's new energy type is still dominated by oil-electric hybrid models (HEVs), and BEVs, that is, pure electric models, only sell 12,000 vehicles, accounting for only 0.15% of total sales.
It is reported that in December 2021, Toyota held a battery electric vehicle strategy conference, announcing that it will invest 35 billion US dollars to develop electric vehicles by 2030, of which the Lexus brand plans to only sell electric vehicles in Europe, North America and China by 2030, and transform Lexus into a pure electric brand under Toyota by 2035.
As early as before the official announcement, Toyota took action to lay out the pure electricity market. Looking back at the news related to Toyota in 2021, its acquisition of the autonomous driving department, and the huge investment in the development of electric vehicle batteries and supply systems, it is not difficult to see its determination to enter the new energy vehicle market.
Interestingly, Toyota Motor Ceo Akio Toyoda did not agree that electric vehicles will occupy the future development trend, believing that it was just "over-hyped". However, in the face of policy encouragement and market winds, in order to survive and develop, we also have to "compromise".
In fact, with its technical experience and brand advantages, Toyota's electrification transformation has natural advantages. Previously, on January 28, Toyota announced its full-year sales results for 2021. In 2021, Toyota produced a total of 10.08 million vehicles worldwide and delivered 10.5 million vehicles, an increase of 10.1% year-on-year, and Toyota once again beat its old rival Volkswagen with this achievement to win the global sales crown.
In terms of brands, in 2021, the Toyota brand produced 8.58 million vehicles and sold 9.62 million vehicles in the whole year; Lexus delivered 760,000 vehicles, an increase of 6% year-on-year, of which Lexus delivered about 260,000 new energy vehicles, an increase of 10% year-on-year.
It can be considered that Toyota's pure electric transformation started late, but the potential is endless. Cui Dongshu, secretary general of the Association, once pointed out that for Japanese car companies seeking electrification transformation, in addition to the insufficient accumulation of pure electric vehicles and the weak industrial chain, how to update the concept of positive transformation is also a key point that needs to be considered.