Toyota's profits fall 45.3% in April-September

The Toyota group closed the first half of its current fiscal year with a 45.3 percent drop in net profits compared to the same half of the previous year, a period marked by the impact of the coronavirus pandemic, reported EFE-EPA.

The firm accumulated between Apr. 1 and September 30 of this year a net profit of 629,368 million yen ($6,084 million), compared to a net profit of 1.15 trillion yen (11,115 million) in the first half of the previous fiscal year.

The period was marked by a quarter, between April and June, greatly affected by the impact of COVID-19, which forced Toyota to close its factories for several weeks due to production problems and the fall in the global sales.

In the first half of its fiscal year, Toyota had revenues of 11.38 trillion yen ($109,974 million), a 25.9 percent drop compared to the same period of the previous fiscal year, and Operating profit fell 62.8 percent to 519,981 million yen ($5,027 million.)

For the full annual fiscal year, which will close on March 31, 2021, Toyota expects to complete it with a 30.3 percent drop in net profits and a 12.9 percent drop in sales.

The firm indicated that in the first half of its current fiscal year it sold a total of 4.37 million vehicles of all its brands, compared to 5.45 million in the first half of the previous fiscal year.

Only in North America, its main market, Toyota sold 930,000 units, 35.7 percent less than those placed in that region in the first half of the previous fiscal year.