Weak yen and supply chain recovery lift automaker, but EV uncertainties loom
Toyota Motor President Koji Sato presents the FT-3e electric sport utility vehicle at the Japan Mobility Show on Oct. 25. The automaker is investing more into electrified vehicles. (Photo by Tomoki Mera)
KAZUHIRO NOGUCHI, Nikkei staff writer | Japan
NAGOYA, Japan -- ToyotaMotor has enjoyed a rapid recovery in profitability driven by a weak yen and price hikes, with its profit margin outpacing Tesla's during the April-September period for the first time in more than two years.
The automaker announced Wednesday that group net profitof 2.59 trillion yen ($17.2billion) for the six-month period beat records for the first time since before COVID-19, resulting in a net profit margin of11.8%.
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