Toyota raises annual forecasts as quarterly profit jumps 23 per cent

TOKYO – Toyota Motor Corp. is reporting its October-December profit rose 23 per cent to 99.91 billion yen (US$1.09 billion), compared to the same period the previous year, as sales jumped, especially in the United States.

Toyota also raised its projections Tuesday for the fiscal year through March.

It now expects its fiscal year profit to more than triple from the previous fiscal year to 860 billion yen ($9.3 billion).

It also raised its full year forecasts for sales revenue and global vehicle sales as it continues to bounce back from a disaster-struck 2011.

The Japanese maker of the Prius hybrid and Lexus luxury cars rose once again to the world’s top automaker in global vehicle sales last calendar year.

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