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Last Updated: Wednesday, 10 May 2006, 09:19 GMT 10:19 UK
Toyota profits keep driving ahead
Young child looks at a Toyota Corolla
Toyota hopes to make nine million units this year
Carmaker Toyota has reported a 17% rise in net profits for the year to 31 March, lifted by strong sales, cost cuts and a weaker yen.

Net profits rose to 1.37 trillion yen ($12.4bn; 6.7bn) for the year, bolstered by a 39% rise during the last quarter when weak yen boosted earnings.

Strong demand for its petrol-electric hybrids could lift sales of its popular Prius to more than a million by 2010.

Toyota might overtake General Motors as the world's biggest carmaker this year.

Popular saloon

The big question is whether Toyota will be able to maintain good profits efficiently while selling more cars
Koichi Sugimoto, auto analyst at Nomura Securities

The latest annual figures marked Toyota's fourth year of record profits.

Toyota's global sales have risen by about 500,000 cars a year for the past five years, helped by its popular Camry, the top-selling saloon in the US..

Toyota expects to make more than nine million cars this year.

In the year to March, Toyota's global sales rose 13% to 21 trillion yen.

"The big question is whether Toyota will be able to maintain good profits efficiently while selling more cars," said Koichi Sugimoto, auto analyst at Nomura Securities.


SEE ALSO:
Hybrids help boost Toyota profits
07 Feb 06 |  Business
Toyota on target to overtake GM
20 Dec 05 |  Business
Toyota makes hybrid car in China
15 Dec 05 |  Business
Toyota and BMW shock profits drop
03 Aug 05 |  Business


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