Toyota today reported a net income of 4.9 trillion yen for the financial year 2024 (FY2024) ended March 31, 2024, which is 101.7% higher than what it managed in the previous financial year (FY2023).
The increase in net income was brought on by heightened demand for Toyota and Lexus vehicles, with over 10.3 million units sold globally in FY2024, or 7.3% more than in FY2023. The automaker saw strong demand in North America (+17%), Europe (+15.7%) and Asia (+3%).
Meanwhile, markets in the ‘Other’ category such as Central and South America, Oceania, Africa, the Middle East and others saw a sales increase of 4.6%. On the flipside, Toyota’s home market of Japan registered a sales decline of 3.7% due to the suspension of shipments caused by the Daihatsu safety scandal.
In terms of the types of vehicles sold, Toyota was keen to point out that sales of its electrified models went up by 35.3% to hit 3.855 million units in FY2024 compared to 2.849 million units in FY2023. Hybrids (HEVs) made up the bulk of electrified vehicle sales with 3.594 million units, a 32.1% increase from FY2023, while plug-in hybrids (PHEVs) saw a 60.3% jump to 141,000 units.
Sales of the automaker’s battery electric vehicles (BEVs) recorded the highest increase at 310.1%, although the total number of units is still less than PHEVs at 117,000 units. As for fuel cell electric vehicles (FCEVs), Toyota sold just 4,000 units in FY2024, which is 11.3% more than in FY2023.
With higher sales in FY2024 than in FY2023, the company’s sales revenue rose by 21.4% to 45 trillion yen, while operating income went up 96.4% to nearly 5.4 trillion yen. For the FY2025 ending March 31, 2025, the company is forecasting a modest increase in sales revenue to 46 trillion yen and a lower operating income of 4.3 trillion yen, the latter taking into account a total of two trillion yen in investments for the future, including expanding its multi-pathway strategy.
Toyota also forecasted sales of Toyota and Lexus models to hit 10.4 million units in FY2025, which is just 0.9% more than what was recorded for FY2024. Electrified models are expected to see a sales growth of 25.2% to 4.8 million units, with HEVs in particular expected to register an increase of 25.2% to nearly 4.5 million units.
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Today the World Sales Distribution:
1. 33% = China Car
2. yet 37.4% of Toyota = PetrolEV/Hybrid, 62.6% is others.
1/3 of the world has changed and different from the previous generation.
My indented brand new Landcruiser just delivered yesterday.. solid 4WD
With 6.6mil electrified vehicle, how much carbon emmision been reduced since 2023?
No wonder Toyota less discount compare other brand in Malaysia
In some countries, Toyotas come with dealer markup also. Sometimes as much as 10%. Not even Porsche dealers can manage that. Car market has lost all common sense.