On February 5, Toyota officially released its financial results for the third quarter of its fiscal year ending in March 2025. The automaker saw strong sales growth, with consolidated global deliveries reaching 7.76 million units, a 98% increase year-over-year. Its sales revenue hit 35.6735 trillion yen (equivalent to $235.4 billion), a 4.7% increase compared to the previous year.
Toyota’s operating income stood at 3.6794 trillion yen ($24.3 billion), marking a decline of roughly 16.5% year-over-year. Despite the drop in operating income, the automaker reported a net income of 4.1 trillion yen ($27 billion), a 3.8% increase year-over-year.
The financial performance highlights the challenge Toyota faced this year, following a period of high production volumes during the industry’s recovery from chip shortages. Although income decreased due to certification issues and one-time expenses, Toyota’s ability to increase net income points to resilience, with price revisions, controlling sales incentives, and strengthening the value chain supporting overall profitability.
During the financial briefing, Toyota executives revealed significant announcements that will accelerate BEV and battery development within the U.S. and China, two of Toyota’s most critical markets.
The automaker will launch a new company in Shanghai focused on the development and production of Lexus BEVs and batteries. This company will be wholly owned and controlled by Toyota, unlike current joint ventures with local manufacturers. Production will begin as early as 2027 with an initial production capacity of 100,000 vehicles.
The automaker’s first U.S. in-house battery plant, Toyota Battery Manufacturing North Carolina (TBMNC), will begin production and shipping batteries in April. The plant will focus on producing batteries for the Toyota brand’s HEVs, PHEVs, and BEVs. This expansion into the U.S. market underscores Toyota’s commitment to increasing its footprint in the growing electric vehicle sector and maintaining its strong competitive edge.
