Toyota Fast Facts: TMC Announces FY11 First Quarter Global Financial Results

> August 4, 2010
>
> Toyota Fast Facts is an update on Toyota and industry news. For more news,
> visit www.toyotanewsroom.com.
>
>
> 1. TMC Announces FY11 First Quarter Global Financial Results
>
> Toyota Motor Corporation reported today net revenues on a consolidated
> basis of 4,871.8 billion yen ($52.95 billion) for the three months ended
> June 30, an increase of 27 percent compared to the same period last fiscal
> year. Operating income increased from a loss of 194.9 billion yen to a
> profit of 211.6 billion yen ($2.3 billion). Net income attributable to TMC
> increased from a loss of 77.8 billion yen to a profit of 190.4 billion yen
> ($2.07 billion).
>
> Consolidated vehicle sales for the first quarter totaled 1.82 million
> units, an increase of 419,000 units compared to the same period last fiscal
> year.
>
> Commenting on the first quarter results, TMC Senior Managing Director
> Takahiko Ijichi said, "Due to an increase in vehicle sales and a large
> decrease in the costs related to loan losses and residual losses in
> Financial Services, operating income improved substantially on last year."
>
> Operating income improved year on year in all regions for the first
> quarter. In North America, operating income increased by 113.4 billion yen
> to 109.7 billion ($1.19 billion), including 700 billion yen of valuation
> gains/losses from interest rate swaps. Operating income, excluding the
> impact of valuation gains/losses from interest rate swaps, increased by
> 125.1 billion yen to 109.0 billion yen.
>
> TMC also adjusted its yearly financial forecast for net income from 310
> billion yen to 430 billion yen ($3.78 billion) for the fiscal year ending
> March 31, 2011 due to an increase in consolidated vehicle sales from 7.29
> million to 7.38 million, an increase of 90,000 units globally. Activities
> will continue to reduce fixed and variable costs in order to maximize our
> effort to exceed our forecast.
>
> Read the press release here:
> http://pressroom.toyota.com/pr/tms/toyota-announces-first-quarter-165832.aspx
>
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> 2. Edmunds: Toyota’s Incentives Still Well Below the Detroit Three
>
> Edmunds.com estimated Tuesday that the average automotive manufacturer
> incentive in the United States rose $63, or 2.3 percent, in July to $2,753.
>
> According to Edmunds’ estimate, Toyota Motor Sales’ incentives averaged
> $2,204 in July, up from $2,141 in June and $1,302 in July 2009. However,
> that is well below Edmunds’ estimate of the July industry average, $2,753,
> and even farther below the average for the Detroit Three, $3,438.
>
> To read the Edmunds press release, please click on:
> http://www.edmunds.com/help/about/press/164767/article.html
>
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> 3. Autoblog: One-Third of Drivers Don’t Know What This Dashboard Light
> Means
>
> Do you know what this symbol on your dashboard means? Although most U.S.
> drivers believe under-inflated tires pose a safety risk, Autoblog reported
> today that 44 percent of those surveyed did not know this symbol was the
> tire pressure monitor and when it lights up they should check their tire
> pressure.
>
> To read the Autoblog article, please click on:
> http://www.autoblog.com/2010/08/04/study-one-third-of-drivers-dont-know-what-...
>
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