Toyota: FY 2014 forecasted profit is highest since Lehman Brothers crisis
Expects to sell 5 million Toyota and Lexus branded vehicles in emerging countries
2013/11/20
- Summary
- Operating profit of JPY 2.2 trillion forecast for FY 2014
- Toyota Group's sales plan for 10.10 million units in FY 2014
- Organizational change to ensure clearer earnings responsibility and faster decision-making
- Increasing vehicle production capacities in emerging countries
- Producing more engines with higher local content ratios in emerging countries
- Developing small cars for emerging countries jointly with Daihatsu
- Sales Forecast by LMC Automotive: Toyota group sales forecast in major 54 countries through 2016
Summary
Toyota Motor Corporation is expected to end the fiscal year ending in March 2014 (FY 2014) with consolidated operating profit of JPY 2.2 trillion restoring the peak level marked for FY 2008. Toyota has plans for Toyota Group to produce 10.12 million units in calendar year 2013 and sell 10.10 million units in FY 2014.
With lessons learned from its experience during the Lehman Brothers crisis, Toyota is aiming for “sustainable growth” by further improving its business efficiency. In April 2013, Toyota announced resolutions to clarify responsibility for operations and earnings and increase the speed of decision-making. To this end, Toyota’s automotive business was divided into four units: Toyota No. 1 covering advanced markets, Toyota No. 2 covering emerging markets, Lexus International and the Unit Center.
The second half of the report will introduce the key plans for Toyota No. 2. These plans include establishing a local integrated production network, developing strategic small vehicles for emerging markets, and selling 5 million units of Toyota and Lexus vehicles (excluding Daihatsu and Hino). Plans for Toyota No. 1 will be introduced in a separate report.
Related Reports:
Toyota's sales and earnings are in full-scale recovery (posted in January 2013)
Toyota's earnings improvement plans for development, procurement and production (Posted in June 2012)
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