The automakers have successfully topped the list of companies making the most sales in the first fiscal quarter of 2015.
In the most recent Toyota news, it has been seen as a pleasant surprise that the first has managed to get the first position to make the largest sales in the first quarter of the financial year 2015. The total cars that the firm has sold have come around 2.52 million, as per a report submitted by AFP Tokyo. This number has come about to be a massive one considering the kind of sales that the firm has made and it has turned out to be quite a success for the Japanese auto giants. Keeping in the mind the fact that the company on an overall basis witnessed a dip in the demand on the local level, this number of sales carried out has been no doubt commendable.In the report presented by AFP, it has been observed that Toyota cars managed to not only beat German Volkswagen in the process of topping the list, but it also left behind GM Company which is an American firm. The Japanese automakers have made successful sales by being ahead not by a small margin but by a huge difference as Volkswagen has come next to the firm with its sales coming around at 2.49 million. As for General Motors, the firm only managed to sell around 2.4 million cars, securing the third position in making the most sales in the first fiscal quarter of the year.If the past performance of TM sales is taken into consideration, it will be seen that the demand on a general level has seen a decline which is why the sales fell around 2.5% in the quarter as compared to the sales made in the previous one. For the full financial year of 2015, the expected sales are expected to be made around 10.23 million. The sales might be decreasing for the year and the reason given by analysts is that it shows that the Japanese giant is taking all the queries into consideration which arose after the customers faced some safety issues in the cars that they bought from the company.The first time Toyota Company managed to beat all the other companies on the globe, like General Motors and other auto giants, was in 2008 when the first managed to top the list. Due to the natural calamities that hit Japan after that, the firm stumbled and took some time to get back in a position again. However this time around, the firm has shown that it has nothing to fear and a lot to do in the upcoming year, keeping in mind the amazing sales made in the start of 2015.
Toyota Motor reports record revenue for the third consecutive year, on account of a weaker yen and US sales hike.
Toyota Motor Corp. announced its fourth quarter and FY15 financial results on Friday. The biggest automaker in the world reported an upsurge of 6% in its revenue and reached $248.98 billion. The company’s operating income rose by 20% on a year over year basis to 2.75 trillion yen, and operating margin stood at 10.1% in the FY.
Toyota Motor posted $19.87 billion in annual net income up 19% against last year. The company posted earnings of 687.66 yen a share increased by 112.74 yen compared to previous year. For the latest quarter, the net income surged by 50%.
Furthermore, the automaker has delivered robust guidance for the upcoming FY16. The company is most likely to report $20.14 billion in record revenue for the FY ended on March 31 next year.
The car makers announced record revenue in the quarter because of weakling Japanese yen and high sales of SUVs in United States and big size trucks. Akio Toyoda, President of Toyota Motor expressed his views and said the robust results “favorable foreign exchange and cost reduction efforts,” as per Wall Street Journal. Such promising factors equalize the low sales and high expenditures of the company, said Mr. Toyoda.
Meanwhile, Toyota is looking to cut its production costs by its new initiative namely Toyota New Global Architecture. The amount drawn from this initiative is going to be used to upgrade vehicles.. The very first vehicle from this program is most likely to be a Prius redesigned.
During FY15, the company sold approximately 8,971,864 vehicles all over the world, less than 144,169 vehicles sold in fiscal year 2014. Last year, it was the number one car seller surpassing German auto manufacturer Volkswagen and General Motors Co.
During the few years, Toyota has been on “International pause” as it faces difficulties to enhance quality and eliminate overcapacity. It has changed now, as the company has expanded its international market spending to increase production. Earlier in April, the company expanded China plant and declared $1.4 billion if the investment to establish a latest plant in Mexico.
Keeping in mind the latest expansion steps, Mr. Toyoda stated, “This year is going to be a major turning point for Toyota on whether it can take a steady step toward stable growth or whether it will go back to its old ways.”
Toyota stock is currently witnessing an upward movement of approximately 2.5% to $141.35 after reporting financial results. Its stock has increased 12.2% since January this year.
