TOYOTA CITY, Japan (Nov. 6, 2024) - Toyota Motor Corporation (TMC) released its financial results for the Q2 2024 which ended September 30, 2024. Consolidated vehicle sales totaled approximately 4,556,000 vehicles, a decrease of approximately 188,000 vehicles compared to the same period last fiscal year. On a consolidated basis, revenues for the period totaled $152.2 billion, an increase of 5.9%. Operating income decreased from $18.2 billion to $16.1 billion, while income before income taxes was $17.9 billion. Net income, the one that counts, decreased from $18.4 billion to $12.5 billion. All in, top line revenues improved by 5.9% while bottom line income fell by a rather severe 32%. Toyota Global Region Results North America: Vehicle sales totaled approximately 1,348,000, a decrease of 37,000 vehicles. Operating income, excluding the impact of valuation gains/losses from interest rate swaps, decreased by $1.532 billion to $837 million. Japan: Vehicle sales totaled approximately 939,000, a decrease of 133,000 vehicles. Operating income, excluding the impact of valuation gains/losses from interest rate swaps, decreased by $391 million to $10.0 billion. Europe: Vehicle sales totaled approximately 547,000, an increase of 10,000 vehicles. Operating income, excluding the impact of valuation gains/losses from interest rate swaps, increased by $204 million to $1.46 billion. Asia: Vehicle sales totaled approximately 905,000, an increase of 10,000 vehicles. Operating income, excluding the impact of valuation gains/losses from interest rate swaps, increased by $493 million to $3.2 billion. Other regions (including Central and South America, Oceania, Africa, and the Middle East): Vehicle sales totaled approximately 818,000, a decrease of 17,000 units. Operating income, excluding the impact of valuation gains/losses from interest rate swaps, decreased by $400 million to $818 million. Toyota Financial Services Financial services operating income increased by $58 million to $2.2 billion. Including valuation gains/losses, operating income increased by $571 million to $2.2 billion. Toyota Forecast For the fiscal year ending March 31, 2025, TMC estimates consolidated vehicles sales will reach 9.40 million vehicles with a net revenue of $312.9 billion, operating income of $29.3 billion, income before income taxes of $33.9 billion, and net income of $24.3 billion. *FY25 currency translations above are approximate and based on an average 153 yen/dollar exchange rate; FY23 is 141 yen/dollar exchange rate. Current currency translations above are approximate and based on an average 147 yen/dollar exchange rate.
