Toyota Motor Corporation (TMC), of Japan, has announced record operating results for the six months ended September 30, 2003.

Toyota Motor Corporation (TMC), of Japan, has announced record operating results for the six months ended September 30, 2003.

On a consolidated basis, net revenues for the six months totalled close to R520 billion, an increase of 8,0 per cent compared with the same period last year.

Operating income increased 12,1 per cent to R49 billion, while the corporations gross income was about R52 billion. The net income over the same period has increased by 23,2 per cent R34 billion.

“While major markets have been experiencing limited growth in recent years, Toyota’s vehicle sales have seen a continued annual growth of 400 000 units. Even during the current semi-annual period, overseas retail vehicle sales grew significantly in all regions,” said TMC executive vice-president, Ryuji Araki, in response to the results.

The corporation’s Japanese market share for the six months stood at 42,5 per cent, a 0.4 per cent increase over the same period last year. Vehicle sales increased by 57 000 units to 1,08 million vehicles and was supported by the introduction of new products such as the Raum and WISH.

TMC hopes to achieve its annual sales target of two million vehicles in North America during this fiscal year. Even in Europe, sales figures have continued to grow despite a slump in the overall market. Consolidated sales in Europe were 441 000 vehicles, an increase of 12,5 per cent over the same period last year and TMC expects that its annual sales target of 800 000 vehicles will be achieved this term.

Consolidated global sales reached 3,17 million vehicles in the first half, an increase of 219 000 vehicles, or 7,4 per cent, compared with the same period in 2002.

Original article from Car