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Automobiles

Toyota nearly doubles net profit forecast fueled by US and China

Japanese car giant also reins in pandemic impact with more cost-efficiency

Toyota Motor nearly doubled its full-year net profit forecast on the back of speedy vehicle market recoveries in the U.S. and China and improved cost-efficiency. (Photo by Takuya Imai)

TOKYO -- Toyota Motor on Friday nearly doubled its full-year net profit forecast to 1.42 trillion yen ($13.7 billion), as the Japanese automotive giant mitigates the impact of the coronavirus pandemic helped by speedy recoveries in the U.S. and Chinese markets and improved cost-efficiency.

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