If you're an avid follower of R & H Toyota's blog, it is no surprise that we like to keep drivers in the Baltimore, MD area informed on the sales performance of their favorite Japanese automaker. Today, we're zeroing in on the Toyota brand's profits for the first quarter of this year, and as you may have already guessed, things are going swimmingly.
The first quarter of the 2014 financial year spanned from April until the end of June where Toyota profits reflected a year-over-year increase of 94 percent to the tune of a staggering $5.5 billion. With Toyota models like the Corolla and Camry helping the brand attain a sales increase of 7.5 percent year-over-year thus far, the automaker is certainly feeling confident and as a result they've upped the ante of their sales forecast by now projecting $14.8 billion in profits. Anticipated sales of new Toyota models was also boosted to 10.12 million from 9.94 million.
Part of the large increase in profits for the Japanese automaker is being attributed to the ever-changing exchange rate of the Yen, which is presently very close in value to the U.S. Dollar. These gains are reflected by this thanks to higher margins and the fact that it is now more cost-effective for Toyota to export vehicles.
We look forward keeping up with Toyota's success this year and look forward to more updates which we will share with our readers. In the meantime, feel free to contact us online or by calling (888) 767-1573 to discuss all things Toyota or to schedule your next routine maintenance appointment with our Owings Mills, MD service center auto experts.
