As a leader in the industry, Toyota was prepared for a decline in sales and was positioned to record income increases while sales dropped.
The sales of vehicles around the world were at the highest level ever recorded for 2016 and 2017. While this is excellent news for the automotive industry, most of the automakers have been preparing for a time when new-vehicle sales would decline. Record sales of new models lead to record increases in the number of used models in the market.
Globally, Toyota experienced sales during their fiscal year, which runs from April 1 to March 31, of 8,964,394 units which is a decrease of 6,466 models. This is a small decrease, but their predictions show a planned decrease over the next fiscal year to bring this number down to 8.5 million models. Even though Toyota sold fewer vehicles, the overall net income was increased from $16.49 billion to $22.46 billion for this past fiscal year. This shows Toyota as a leader in the market and one that certainly can continue to see positive numbers as long as their conservative goals are reached.
Looking At Toyota Sales Over Several Regions
In North America, Toyota showed vehicle sales of 2,806,467 units which were a significant decrease of 30,867 units. This decrease resulted in a decrease in income from this market from $1.79 billion to $1.19 billion during the fiscal year. The Japanese market also reported a sales decrease for this brand in its home country. The sales totaled 2,255,313 models of Toyota vehicles which were a decrease of 18,649 vehicles during the fiscal year. Even so, the income that resulted from these sales increased by a great deal during this time from $4.10 billion to $14.97 billion during the year, giving the brand an area that continues to show income necessary to this company.
The European market saw an increase in the sales of Toyota vehicles to 968,077 models which represents an increase of 43,517 modes. This market showed an increase in income as a result of these sales from $694.59 million to $800.90 million to be an area of the world that aided Toyota with an increased income level.
In Asia, vehicle sales for Toyota dropped to 1,542,806 models which were a decrease of 45,016 models during the past fiscal year. Even though this area of the market showed the greatest decrease in the number of vehicles sold, it was where the greatest increase in income was experienced which took Toyota to $3.86 billion in income for the area.
Toyota is a strong performer in the market and has been a name we’ve trusted for many years. This brand is one that shows up to give us the quality and dependability we expect to find with the Toyota name. As the brand projects to experience a slight decrease in sales over the next fiscal year as well, they are poised and prepared to handle the future of the automotive market and continue to be a leader.
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