On the Dash:
- Toyota’s global vehicle sales rose 5.8% to 4.78 million units, but operating income declined to 2.005 trillion yen ($13.7B).
- Honda set records in electrified vehicle sales, with hybrids accounting for over 30% of October sales.
- Regional performance varied for Toyota, with North America and Asia seeing operating income declines despite higher sales.
Toyota Motor Corporation reported consolidated vehicle sales of approximately 4.78 million units, up 227,000 from the prior fiscal year, with net revenues rising 5.8% to 24.63 trillion yen ($168.7 billion). Despite higher sales, operating income fell to 2.005 trillion yen ($13.7 billion) from 2.464 trillion yen ($16.1 billion), while net income declined to 1.773 trillion yen ($12.1 billion). Income before taxes reached 2.478 trillion yen ($17.0 billion).
Regional results showed mixed performance. For instance, North America saw vehicle sales rise to 1.53 million units, but operating income turned negative at 134.1 billion yen ($0.91 billion). Japan, Europe, and Asia experienced declines in operating income, while other regions, like Central and South America, Oceania, Africa, and the Middle East, saw both sales and operating income growth. Financial services operating income increased to 377.3 billion yen ($2.58 billion), rising to 450.4 billion yen ($3.08 billion) including valuation effects.
Looking ahead, Toyota forecasts 9.8 million vehicles sold for the fiscal year ending March 31, 2026, with projected net revenue of 49.0 trillion yen ($335.6 billion), operating income of 3.4 trillion yen ($23.3 billion), income before taxes of 4.18 trillion yen ($28.6 billion), and net income of 2.93 trillion yen ($20.1 billion).
Meanwhile, Honda also reported strong results for October in the U.S., with American Honda selling 111,095 units, keeping year-to-date sales up 3.6%. The Honda brand totaled 100,030 units, driven by record October sales of the all-new Passport and strong CR-V performance, where hybrid sales exceeded 52% of the mix. Electrified Honda models set a new monthly record with 30,471 units, or 30.5% of total brand sales. Acura sales reached 11,065 units, highlighted by the all-new ADX, which set a monthly record of 2,721 units.
Despite higher sales across most regions, operating income declines highlight Toyota’s uneven profitability, while Honda continues to capitalize on electrified-vehicle demand in the U.S. market.
