Toyota Reports Profit Increase in Third Quarter 05

TOKYO November 4, 2005; Yuri Kageyama writing for the AP reported that Toyota Motor Corp.'s profit rose 2 percent in the July-September quarter, lifted by growing sales around the world -- in sharp contrast with the dismal results at U.S. counterparts General Motors and Ford.

Japan's No. 1 automaker on Friday reported its group net profit for the fiscal second quarter rose to 303.7 billion yen, or $2.6 billion, from 297.4 billion yen the same period a year ago.

Sales for the quarter rose 9 percent to 4.97 trillion yen, $42 billion, from 4.5 trillion yen.

The results put Toyota on pace to set a record net profit for the full fiscal year through March 2006 for the fourth straight year.

Toyota, the maker of the best-selling Camry compact and Prius gas-and-electric hybrid cars, does not give consolidated forecasts, but it said Friday it expected to sell 8.03 million vehicles for the current fiscal year, up 60,000 vehicles from its August forecast, and above the 7.4 million vehicles sold the previous year.


Full Article

Detroit-based GM lost more than $3 billion in the first nine months of this year. Ford, based in Dearborn, Michigan, reported a third-quarter loss of $284 million.

ouch?