Toyota Announces April Through December 2024 Financial Results
Tokyo, Japan, February 5, 2025 – Toyota Motor Corporation (TMC) today announced its financial results for the nine-month period ending December 31, 2024.
Financial Highlights
- Net revenues: 28.9 trillion yen (US$261.9 billion), an increase of 2.5% year-over-year
- Operating income: 3.0 trillion yen (US$27.2 billion), a decrease of 23.9%
- Net income: 2.2 trillion yen (US$20 billion), a decrease of 29.6%
- Global vehicle sales: 9.2 million units, an increase of 1.3%
Operating Environment
The global automotive industry faced a challenging operating environment during the nine-month period. Ongoing supply chain disruptions, rising input costs, and geopolitical uncertainty impacted production and sales.
Financial Performance
Despite these challenges, Toyota delivered solid revenue growth driven by strong demand for its electrified vehicles. However, the company’s operating and net income declined due to unfavorable currency fluctuations, increased costs, and lower sales in some regions.
Regional Performance
- Japan: Net revenues increased by 2.7%, while operating and net income declined by 23.5% and 29.9%, respectively.
- North America: Net revenues grew by 4.0%, but operating and net income fell by 20.7% and 31.6%, respectively.
- Europe: Net revenues increased by 1.3%, while operating income decreased by 18.4% and net income by 19.8%.
- Asia: Net revenues grew by 1.6%, with operating income and net income increasing by 0.9% and 1.5%, respectively.
Outlook
Toyota forecasts a challenging operating environment for the fiscal year ending March 31, 2025. The company anticipates ongoing supply chain disruptions, inflationary pressures, and geopolitical uncertainty.
Despite these challenges, Toyota remains committed to its long-term growth strategy. The company plans to accelerate its electrification efforts, invest in new technologies, and strengthen its global production capabilities.
Comment from Akio Toyoda, President and CEO of Toyota
“The past nine months have been a time of significant challenges for the global automotive industry. Despite these obstacles, Toyota has demonstrated its resilience and commitment to delivering value to our customers and stakeholders. We are determined to overcome these challenges and continue our journey towards a more sustainable and mobile society.”
Additional Information
Toyota’s full financial results can be found on the company’s website: global.toyota/en/ir/
TMC Announces April Through December 2024 Financial Results
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