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Toyota quarterly profit drops 98% as pandemic cuts car sales in half

AMB News Reporter

News Reporter
Filed under: Earnings/Financials,Toyota

Toyota Motor Corp eked out its smallest quarterly profit in nine years as the coronavirus pandemic halved its car sales and nearly wiped out its bottom line. Toyota's operating profit plunged 98% to 13.9 billion yen ($131.73 million) for the three months ended June, better than a consensus estimate for a loss of 179 billion yen drawn from a Refinitiv poll of seven analysts. The sharply lower earnings underlines the challenges the auto industry is facing because of the pandemic that has shutte
Continue reading Toyota quarterly profit drops 98% as pandemic cuts car sales in half

Toyota quarterly profit drops 98% as pandemic cuts car sales in half
originally appeared on Autoblog on Thu, 6 Aug 2020 09:01:00 EDT. Please see our terms for use of feeds.

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