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Toyota posts record Q1 net profit of $8.2bn

Honda now expects net profit to rise 1.9% despite industry's dim outlook

Robust sales helped Toyota reach a record quarterly net profit and prompted Honda to upwardly revise its annual earnings projection. (Source photos by Reuters and Akira Kodaka)

TOKYO -- Toyota Motor on Wednesday reported a net profit of 897.8 billion yen ($8.2 billion) for the April-June period, a record amount for the quarter, thanks to robust sales in North America and China that reached pre-pandemic levels.

The automaker, however, kept its net profit forecast for the year through March 2022 at 2.3 trillion yen as it anticipates rising raw material costs and other headwinds.

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