Toyota Group Makes History with Record Revenue Exceeding 5 Trillion Yen
In a groundbreaking announcement, Toyota Group has reported record-breaking profits for fiscal year 2024, with revenue exceeding the 5 trillion yen mark for the first time in history. The automotive giant credited the depreciation of the yen and the success of their hybrid models for the impressive financial results.
According to Toyota Motor Corporation’s financial report for the fiscal year 2024, revenue reached a staggering 5,352.9 billion yen, marking a 96.4% increase from the previous year. This achievement not only set a new high for the company but also established Toyota as the first Japanese company to surpass the 5 trillion yen threshold in revenue.
The surge in revenue was attributed to the strong sales performance of Toyota’s car models, with a record-breaking 11,090,000 new vehicles sold globally in fiscal year 2024. The demand for hybrid models also played a significant role in driving revenue growth, with sales of electrified models increasing by 1,006,000 units year-on-year. This trend underscores the growing market demand for environmentally friendly vehicles.
Additionally, the depreciation of the Japanese yen contributed to Toyota Group’s financial success, further boosting their revenue and profits for the fiscal year. As a result, the company’s net profit for fiscal year 2024 reached 5,071.4 billion yen, more than doubling from the previous year.
As the leader in the automotive industry, Toyota Group’s impressive performance in fiscal year 2024 sets a high bar for the competition. With hopes for continued success in fiscal year 2025, the company is poised to deliver more innovative and competitive car models to meet the evolving needs of the market.