Toyota Returns To Profit, Stimulus Boost Sales

November 5, 2009

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November 5, 2009

Toyota Motor has announced a surprise profit last quarter. The world's largest car company attributed the unexpected good news to government measures aimed at boosting sales of environmentally-friendly cars and other vehicles. Toyota is expected to be in the red for its current financial year, but those losses are expected to be only about half of what was previously forecast.

STEVE INSKEEP, host:

NPR's business news starts with Toyota turning a profit.

(Soundbite of music)

INSKEEP: In more normal economic times, news that Toyota made a quarterly profit would not draw much attention. Used to be, they always did that. But Toyota's announcement today that it made more than $200 million the past three months did surprise some analysts.

The world's largest carmaker has been losing billions in recent months in the global downtown. The company is still expected to be in the red for its current financial year, but those losses are now expected to be only about half of what was previously forecast. And again, the latest report shows them, for a few months, making a profit.

Toyota, like many other carmakers, has benefited from government stimulus plans that have encouraged car buying in the U.S., Europe and Asia. Honda and Nissan have also said recently that they see their business improving in the coming months.

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