Toyota's fiscal third quarter operating profit down 21% Sales down 11%

In the third fiscal quarter of fiscal 2021-2022, Toyota's operating profit decreased by 21% to $6.81 billion; Net income decreased 5.6 percent to $6.88 billion; Global sales fell 11% to 2.52 million units. As a result, Toyota lowered its production forecast for the fiscal year from 9 million units to 8.5 million units.

Toyota expects its operating profit to reach $24.33 billion and net income of $21.63 billion in the 2021-2022 fiscal year. If achieved, this goal will be Toyota's second-highest performance in history. At the same time, Toyota also maintained its target of 10.29 million units in the current fiscal year.

On February 9, Toyota announced that its operating profit for the third fiscal quarter of the 2021-2022 fiscal year (April 2021 to March 2022) (October 1 to December 31, 2021) fell by 21% to US$6.81 billion due to the double impact of the epidemic and the lack of cores; Net income decreased 5.6 percent to $6.88 billion; Global sales fell 11% to 2.52 million units. As a result, Toyota lowered its production forecast for the fiscal year from 9 million units to 8.5 million units.

Toyota said, "The production plan of 8.5 million units is a relatively conservative forecast based on the current predictable risk of parts shortages." ”

Toyota revealed that its production fell by about 140,000 units in January; The loss of production in March is expected to remain within 100,000 to 200,000 units. Overall, in the first quarter of 2022, Toyota's production loss may reach about 480,000 vehicles.

Regionally, Toyota's sales in North America fell sharply by 31% to 522,000 units. Its operating profit plunged 45% to $945 million. Its sales in Europe fell 12% to 250,000 units; However, operating profit increased by 53% to about $733 million.

Looking ahead, Toyota Finance Director Hiroyuki Suzuki is still not optimistic, "Chip supply and demand will not improve anytime soon; At the same time, the epidemic situation remains uncertain, resulting in uncertainty in production and sales that will continue into the next fiscal year. In response, Toyota is reviewing production plans on a daily basis. ”

Suzuki also said that the continuous rise in raw material prices will also affect the company's operating performance. "The rate of increase in raw material prices is unprecedented, and Toyota believes that this trend will continue into the next fiscal year, becoming another difficulty for the company."

Despite the production crisis, Toyota is still confident about the profit performance of the current fiscal year, benefiting from the exchange rate and other factors. Toyota expects its operating profit to reach $24.33 billion and net income of $21.63 billion in the 2021-2022 fiscal year. If achieved, this goal will be Toyota's second-highest performance in history. At the same time, Toyota also maintained its target of 10.29 million units in the current fiscal year. (Compiled by Guo Yue, China Economic Network)