AutoBeta(AutoBeta.net)02/07 Report--

On February 6th, Toyota, a Japanese automaker founded in 2020, released its fiscal year 2020 results, which showed that net income in the first three quarters of fiscal year 2020 (2019.4-2019.12) was 22.83 trillion yen, up 1.6% from 22.48 trillion yen in the same period last year. Operating income is about 2.059 trillion yen, up 6.2% from about 1.94 trillion in the same period last year. Net profit increased by 590 billion yen to 2.01 trillion yen, with a profit margin of 8.8%.

Judging from Toyota's financial results, Toyota's operating income and net profit have increased to varying degrees in the first three fiscal quarters, mainly because Toyota's sales performance in major markets is good.

According to sales figures released by Toyota, Toyota (including its Toyota, Lexus, Daihatsu and Hino brands) sold 10.7421 million vehicles worldwide in 2019, up 1.4 per cent from a year earlier.

According to the performance of Toyota's major markets, the Asian market accounts for the largest share, followed by the North American market and finally the European market. Of this total, the Asian market grew 4 per cent year-on-year to 2.9703 million vehicles, the North American market fell 1.5 per cent to 275.72 vehicles, and the European market grew 4.6 per cent to 1.052 million vehicles.

The US market is Toyota's largest single market, but the US market has brought negative growth to Toyota due to weak sales, with sales of 2.383 million vehicles in 2019, down 1.8 per cent from a year earlier.

On the contrary, the two major markets in Asia, the Chinese market and the Japanese market, have grown to varying degrees. Among them, Toyota's cumulative sales in China reached 1.62 million vehicles, an increase of 9.0% over the same period last year. This is the first time that the Chinese market has surpassed the Japanese market to become Toyota's second largest single market in the world. Specifically, FAW Toyota sold 738000 vehicles in 2019, up 2 per cent from the same period last year, while Guangzhou Auto Toyota sold 682000 vehicles in 2019, up 17.59 per cent from the same period last year. Toyota's luxury brand Lexus sold 202000 vehicles in China in 2019, up 25 per cent from a year earlier.

China is the largest auto market in the world. In recent years, Japanese cars have been sought after by many consumers for their "economy", and the share of Japanese brands in the Chinese market has increased from 18.8% in 2018 to 21.3%.

Although Toyota's sales in China have been growing steadily, compared with Volkswagen and other car companies, the contribution of the Chinese market to Toyota's overall performance is relatively limited. In order to promote the good development of the Chinese market, Toyota plans to split its Chinese business from its Asian business and will develop separately in the future.

Toyota expects global car sales to reach 10.73 million in the fiscal year to March, slightly higher than the previous forecast of 10.7 million, with sales of 29.5 trillion yen and operating profit rising from 2.47 trillion yen to 2.5 trillion yen in fiscal year 2020. Pre-tax income was 2.91 trillion yen and net profit was 2.35 trillion yen.

At present, China is in a period of "epidemic resistance". As for the impact of the epidemic on the Chinese market, Toyota's operation officer said: "We are closely watching the inventory of Chinese-made parts used in Japan and other countries, as well as the feasibility of alternative products."

Affected by the epidemic, Toyota's sales did decline in the last month. According to sales data, Toyota's January sales decreased by 1.2% to 145300 vehicles compared with the same period last year, mainly due to the reduction in the number of shop days during the Spring Festival holiday and the impact of novel coronavirus's epidemic on passenger flow.

Welcome to subscribe to the WeChat public account "Automotive Industry Focus" to get the first-hand insider information on the automotive industry and talk about things in the automotive circle. Welcome to break the news! WeChat ID autoWechat