In recent days, the release of Toyota's financial report data has made many people break the defense.
In fiscal 2024, its sales revenue will be 45.095 trillion yen, a year-on-year increase of 21.4%; Operating profit was 5.353 trillion yen, a year-on-year increase of 96.4%; Net profit was 4.945 trillion yen, up 101.7% year-on-year. Its net profit for fiscal 2024 reached an eye-popping 230 billion yuan, 2.5 times that of the 12 listed Chinese automakers combined. Toyota's sales margin was 11.9% in fiscal 2024, compared to 7.3% in the previous fiscal year.
Many people say that Toyota will announce its profits before 2024 is over, but in fact, fiscal year 2024 refers to the period from April 2023 to March 2024, and so on.
Despite such high profits, Tsuneji Sato repeatedly emphasized at the earnings press conference that "consolidating the position is the most important issue"; For fiscal 2025, Toyota expects an operating profit of 4.3 trillion yen, down 19.7% year-on-year. It seems that Toyota is also ready to accept the risk of declining sales and net profit in the new fiscal year.
In fiscal 2024, Toyota (including Lexus, Hino Motors, and Daihatsu Motors) sold a total of 11.09 million units, a year-on-year increase of 5%; However, Toyota's original sales target was 11.38 million units, which also means that Toyota has not achieved its set target. However, this sales volume is still the first in the world, ahead of the second-place Volkswagen Group, and compared with the many brands under the Volkswagen Group, Toyota has only four sub-brands.
In terms of the Chinese market, Toyota's financial report shows that in 2023, Toyota (including Toyota and Lexus) will achieve a slight year-on-year increase of 1.4%; However, Toyota's sales in China in 2023 will decline by 1.7% year-on-year. According to the data, Toyota's sales in China in 2023 will be 1.701 million units. In terms of operating performance, Toyota's consolidated subsidiaries in the Chinese market earned 195.6 billion yen, a year-on-year increase of 1.1 billion yen, accounting for less than 4% of Toyota's total profit.
We have always felt that the Chinese market is very important, but from the perspective of net profit, Toyota mainly earns money in the North American and European markets.
Many people will Toyota's performance, think of it as a return to the light, the last glory of fuel vehicles, etc., I think this matter, depending on the progress of power battery technology research and development, at present, the world, only the Chinese market for new energy vehicles support policy is still strong, although the new energy vehicle subsidy has also been canceled, but at least tax exemption, other countries have a certain decline, in the final analysis, it is because, power battery technical bottlenecks, range anxiety can not be solved in the short term, The infrastructure of new energy vehicles has not kept up, and other countries believe that it is not yet time to phase out fuel vehicles, for example, Europe's plan to gradually stop selling new fuel vehicles in 2035 may be delayed.
Therefore, it is foreseeable that Toyota's share of the Chinese market will shrink further in the next few years, but it is still unknown how much impact this will have on Toyota's global sales and status. Toyota may still hold the position of global sales champion for at least a few years.
On the other hand, solid-state batteries are a watershed in the development of automobiles, who can take the lead in realizing the low-cost mass production of solid-state batteries, who has the hope of reshaping the pattern of the global automobile market, and in this regard, GAC is currently proposed to be 2027, Toyota also said that it is 2027, but in the end it will not bounce, we need to wait and see.
All in all, how Toyota is belittled on the Chinese Internet, ridiculed by the group is that it will go out of business in a few years, or it can't keep up with the development of the times, at least for now, it is still the world's highest sales, the highest net profit car company, as for the next few years, will there be a Nokia-style collapse, or wait and see, domestic car companies overtake in the corner, still need to add a few more oil.