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Toyota lifts profit forecast to record 2.4 trillion yen

Posted February 06, 2018 6:00 am

The Associated Press

TOKYO (AP) - Toyota is seeing a nearly doubling of profit for the fiscal third quarter, and it lifted its annual profit projection through March to 2.4 trillion yen ($22 billion), a record high for the Japanese automaker.

Toyota Motor Corp. reported Tuesday an October-December profit of 941.8 billion yen ($8.6 billion), up from 486.5 billion yen the same period the previous year.

Quarterly sales rose 7.4 percent to 7.6 trillion yen ($69.8 billion).

The company said it got a nearly 292 billion yen ($2.7 billion) boost from tax breaks under President Donald Trump's administration for the nine months through December.

Toyota, which makes the Prius hybrid, Camry sedan and Lexus luxury models, said it expects to sell 10.3 million vehicles globally this fiscal year.

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