Toyota reduces its profit forecasts. Management focuses on 2021 models to avoid losses

(MENAFN – Youm7) Imminent returns and losses led the Japanese automaker TOYOTA to develop an emergency plan that expands until 2021, betting on the management of the company on its new ones. models of several models, including Corolla.

According to the Bloomberg Network, the Japanese automaker Toyota lowered its operating profit forecast for the fiscal year to 240 billion yen ($ 2.2 billion) from the planned 255 billion yen for May, because of the negative effects of the badumptions. Exchange rate.

Toyota also lowered its expectations for a net profit of 215 billion yen, against 225 billion three months ago. The company has slightly reduced its sales forecast for the year to 29.5 billion yen, against 30 trillion yen.

Toyota, Japan's largest automaker, reported an 8.7% rise in profits in April / June to 742 billion yen, with net profit of 683 billion yen, up 3.9% compared to the same period. Quarter of last year.

The company's sales over the three months increased by 3.8 percent to 7.65 billion yen.

"There is a negative impact of 180 billion yen due to exchange rate badumptions," Toyota chief executive Kinta Kun said in a statement.

In order to offset this negative impact, even slightly, the company intends to realize an additional 25 billion yen through the positive impact of profit-generating activities by reducing costs and expenses.

Toyota will introduce 18 new models by the end of 2021, including an upgraded version of the Corolla sedan. These new products will account for 60% of the company's total sales, up to 6.5%, the Bloomberg news agency quoted Toyota officials as saying. Million cars.

Faced with declining demand for cars around the world, Toyota is looking to focus more and more on China, but the company is expected to face difficulties in meeting the appreciation expectations of the Japanese yen.

"The strength of the yen could be dangerous for Japan's exports to the United States," said Yoshiyaki Kawano, an auto-economics badyst at market research firm EHSmarket, quoted by Bloomberg.

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