Toyota Reports Solid Financials for 2024, with Boost from Stronger Pricing and Value Chain Profitability

Toyota Motor Corporation has released its financial results for the 2024 fiscal year, showing a healthy profit of ¥480 billion, an increase of ¥294.13 billion compared to the previous year.

The company's automotive segment recorded significant gains in both production and sales, with 9,670,000 vehicles manufactured (up by 97.1% on the previous year) and 10,270,000 sold (up by 99.7%).

In addition to its automotive division, Toyota's electronics segment saw a notable increase in revenue, contributing to an overall surge of ¥48 billion.

The Japanese automaker's financial performance in 2024 was influenced by various factors, including declining sales figures and the impact of premium vehicle models on profit margins, as well as cost-cutting measures and investments in emerging technologies.

Toyota has forecast significant growth for its automotive segment in the coming years, with a projected ¥3.8 trillion operating profit in 2025, an increase of ¥463 billion from the previous year's target.