Toyota proud of its quarterly profit

After losses in the hundreds of millions last year, Toyota executives must be smiling as they count – and carefully stow – their $2.2 billion profit margin from last quarter.  Recalls are never good – just ask egg farmers – and can be even more detrimental during an economic downturn.  That being said, Toyota Motor Corp. has been busy earning back the trust of their customers after a series of recalls on its vehicles in 2010.  Their profits for the quarter ending last June is their biggest in two years may continue to grow with the introduction of the next generation Prius and the 2011 Toyota Avalon. Chicago drivers have kept the faith and it appears they aren’t alone with a reported 27% increase in worldwide sales for Toyota.

Aside from Toyota’s cost-cutting measures, analysts point to popular sales incentives and promotions – like zero percent financing – that have enchanted wayward customers who were discouraged by Toyota’s recent wave of recalls. Growth in the North American and Asian markets was strong enough for Toyota execs to feel comfortable bumping their revenue forecast from $226 billion to $229 for the coming year.  They expect to move around 7.4 million vehicles, a 1% increase from last year.  Shares increased in value too, ascending 2% to $74.25 a pop.  These are good signs for an automotive company in a market that has most competitors tightening their belts and counting every shekel.

Green is becoming Toyota’s color; their focus on environmental efficiency has been instrumental in their recent success.  t Some governments are offering environmental incentive programs for fuel efficient vehicles which bodes well for 2011 Prius drivers in Chicago. Toyota Van enthusiasts aren’t color blind either, and they’ll be seeing more green with the family-friendly 2011 Toyota Sienna that gets 19 mph city and 24 mph highway.

Toyota has diligently atoned for its recall woes and is poised to return to the top of the automobile world stronger than ever.  Automotive Darwinism has taken its toll on the car market in the form of downturn, hardship, and shrinking sales.  But the cream rises to the top, and Toyota continues to prove it is fit to thrive well into the future.