Toyota Australia posts $249 million profit

Toyota Australia posts $249 million profit

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Toyota Motor Company Australia, beset by unheard-of stock shortages and multi-calendar year wait lists, turned a $249 million following-tax income for the 2021-22 fiscal calendar year.

Comprising Toyota Australia, Lexus Australia and Revolution (program solutions) functions, the end result also includes proceeds from the sale of the Chatswood Toyota dealership in Sydney.

The sturdy financial result is nonetheless down on the $332m soon after-tax earnings TMC posted in 2020-21 – which was padded by the sale of its former HQ in Caringbah, and the Sydney City Toyota dealership.

Australia’s largest automobile company operates on the Japanese economical calendar year which runs from April 1 to March 31.

Monetary yr profits by Toyota and Lexus rose by 6.2 for every cent to 234,091 vehicles mixed, representing additional than a single out of every single 5 new automobiles bought in Australia (22.3 for each cent).

Toyota posted its 3rd-very best calendar year on record with 223,642 sales and built the country’s prime-advertising passenger vehicle (Corolla), SUV (RAV4), and commercial (HiLux).

Lexus grew 5. for every cent to 9290 product sales, which includes a 38.8 for each cent hybrid share, and launched its to start with EV (UX300e) and PHEV (the new NX450h+) models.

TMCA President and CEO Matthew Callachor claimed noted the sale of a lot more than 73,000 Toyota and Lexus hybrids for FY21-22, and again apologised for the massive stock shortages – reflective of report order intakes.

“… Unprecedented demand from customers for our automobiles, merged with the world automotive industry’s shortages of semiconductors and other factors due to COVID source chain difficulties, has regrettably resulted in prolonged shopper wait periods for several cars,” he claimed.

“Toyota apologises sincerely for the inconvenience currently being professional by impacted shoppers, and thanks them for their loyalty and endurance.

“I want to assure them that we and our worldwide creation teams are undertaking every thing in our electric power to safe the utmost amount of vehicles for our market place and as speedily as possible.”

Mr Callachor stated TMC Australia would donate a person per cent of pre-tax income each individual 12 months to community applications, setting up with $3.4 million for 2021-22. Ever-knowledgeable of sensible PR, Toyota was early in returning its authorities JobKeeper payments, back again in January 2021.

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