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Automobiles

Toyota posts net profit of $1.5bn for April-June despite COVID

Carmaker remains bullish while rivals struggle with lackluster performance

In China, Toyota recorded a 1% rise in unit sales for January through July, compared with the same period last year.

TOKYO -- Toyota Motor posted a net profit of 158 billion yen ($1.5 billion) for the three months ended in June, the automaker said Thursday. That was down 74% from the previous year, but the Japanese automaker stayed in the black even as its peers had loss-making quarters due to the COVID-19 pandemic.

Revenue at Toyota for April to June came in at 4.6 trillion yen, down 40% from the previous year, while its operating profit, at 13.9 billion yen, was down 98%. 

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