AutoBeta(AutoBeta.net)05/09 Report--

Toyota officially announced its global results for the 2018 fiscal year (April 2018-March 2019), with sales and sales hitting record highs, but net profit plummeting.

The consolidated report, which includes Toyota Group subsidiaries Dafa Industries and Hino Motor, achieved global sales of 10.603 million vehicles in fiscal year 2018, an increase of 1.6% year-on-year and another all-time high.

In terms of joint performance, Toyota achieved sales of 30.2256 trillion yen (1.863 trillion yuan) in fiscal 2018, up 2.9 percent from the previous fiscal year. At the same time, Toyota became the first Japanese company with sales exceeding 30 trillion yen.

In addition, Toyota's operating profit for fiscal 2018 was 2.4675 trillion yen (152.2 billion yuan), up 2.8 percent from a year earlier, while net profit fell 24.5 percent to 1.8828 trillion yen (116.1 billion yuan) due to the decline in the share prices of its automakers and parts manufacturers.

It is worth noting that Toyota's sales of 30.2256 trillion yen ranked eighth among listed companies in the world, lower than the 30.7299 trillion yen of German car giant Volkswagen Group, which ranked seventh.

Toyota's financial results show that it has made a positive contribution to Toyota's financial results and sales due to the growth of sales in the Chinese market. Data show that Toyota's new car sales in China reached 1.4745 million in 2018, up 14.3% from the same period last year. Toyota's new car sales in China totaled 347900 in the first quarter of this year, up 8.1% from a year earlier. Toyota plans to increase investment in China, its third-largest market, to take the lead in developing cars, especially electric vehicles, and expanding its joint venture plant in China. Toyota's head of China said he hopes Toyota will one day outperform the United States in China.

Toyota also expects sales and performance for the 2019 fiscal year. Toyota's global sales are expected to grow 1.3 per cent to 10.74 million vehicles in fiscal year 2019; sales are expected to fall 0.7 per cent to 30 trillion yen due to a possible decline in the average unit price of cars; operating profit rose 3.3 per cent to 2.55 trillion yen and net profit rose 19.5 per cent to 2.25 trillion yen.

Toyota said it hopes to speed up the development of new technologies such as electrification and self-driving and actively invest in the future.

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