Strong Global Sales Boost Toyota's Profit

Heda Bayron
Hong Kong
February 11, 2008

Stronger vehicle sales has boosted profits at Japan's top automaker.

Japan's Toyota Motors Corporation says profit in the three months ending in December jumped seven and a half percent from the same period the previous year because of strong vehicle sales around the world.

Sales in Asia, excluding Japan, jumped more than 18 percent, while sales in the Middle East, South Africa and Australia surged 28 percent.

Takahiro Ijichi, Toyota's managing officer, says net profit for the quarter reached a record high of $4.29 billion.

"Despite severe conditions in the business environment, including the appreciation of the Japanese yen against the U.S. dollar, we achieved a record high third quarter results in every item, from net revenue to net income," he said.