Toyota More Than Doubles Q1 Profits

by Nate Torvik on May 10, 2013

How does one of the most successful automotive companies in the world, already a juggernaut of the industry, jump even further ahead of the competition? Well, it doesn’t hurt to release multiple cutting-edge models that have become leaders in their segments (2013 RAV4) while cutting costs across the board — and getting some help from the global economy. Toyota Motor Corporation watched its profits more than double for the first quarter of the year, and it doesn’t look as if they will be slowing down any time soon. They have already predicted a new record high in sales for this year, but is the sky the limit?

Profits reached 313.9 billion yen ($3.2 billion) in Q1 this year, compared to 121 billion yen one year ago, according to USA Today. The overall expectation from the company is to have a 1.37 trillion yen ($13.8 billion) profit, from 962 billion yen a year ago. With increases in sales around the world, including rapid sales of the new RAV4, the expectation of new and exciting models, such as the Corolla Furia, and thrifty spending practices, there is really no reason to expect that Toyota won’t continue its torrid pace, perhaps even outgaining its own expectations.

So, will Toyota repeat as the world’s largest automaker again? Unless some prayers are answered from the corporate bigwigs at GM, absolutely. The question now is, how large will the margin be? With competition coming from all sides, including nearby neighbor Hyundai in South Korea, it will not necessarily be an easy road to the end of the year, but I would think that the consensus has to be that Toyota will weather any and all storms that come their way and take the crown of best-selling automaker for 2013.

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