Toyota forecast profit will fall from last year’s record as demand slumps in Japan, competition intensifies in the United States and the yen is no longer the boon it used to be.
Net income will probably slip to 1.78 trillion yen ($17 billion) in the fiscal year ending March 31, Toyota said in a statement today.
Toyota achieved a record annual profit and sales above 10 million vehicles for the first time, but forecast Thursday a slower year ahead as the momentum from a weak yen fades.
Toyota announced on Monday that it will move its national headquarters to Plano, Texas, after a half-century in the Los Angeles suburbs.
What do the cities of Dallas, Texas and Oakland, Calif. have in common? A lot, according to Toyota’s engineers, despite the two cities being separated by nearly 1,700 miles with different demographics and industries.
Toyota outsold Volkswagen Group and General Motors for a third straight quarter, helped by a weaker yen.
