Toyota Hits Record Highs In 2022

Industry News / 6 Comments

People can't get enough of Toyota's current product lineup.

Japanese automaker Toyota has always appealed to the masses. Its cars are affordable, reliable, and brilliant, and as a result, it shifts huge volumes of cars every year. As the automaker offers more enthusiast-focused cars, provides affordable EVs, and invests in better production processes, its popularity will only increase. Like any other automaker, it has had to deal with the challenges of pandemic-related shutdowns and global supply issues, but it seems that Toyota is feeling the effects of these issues to a lesser degree than many of its rivals. According to the brand's recently released financial results for the year ending March 31, 2022, it has recorded profit figures of around $24.6 billion (at current exchange rates).

Toyota
Toyota
Toyota

That figure is an increase of 36% from the year before and considerably higher than its previous record of around $17.6 billion, set back in 2016. Revenue also increased by a substantial 15% to around $257.4 billion. Unsurprisingly, sales increased during this past financial year, with Toyota recording an uptick of 7.6% to 8.23 million vehicles. Keep in mind, however, that this figure includes the sales of Toyota's other brands like Lexus and Hino. Toyota expects this positive increase in sales to continue this year, predicting retail sales to increase by 3.1% to 10.7 million units. However, operating profit is expected to fall by around $19.7 billion.

Rear Perspective Driving Toyota
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The obvious reasons for this bleaker outlook are the continuing lockdowns in China, the rising costs of raw materials, inflation scares, and the continual supply problems caused by the ongoing conflict in Ukraine. "These factors will be compounded," said chief communications officer Jun Nagata. "This fiscal year, it's going to be even more difficult than other years to make a forecast." To get around these issues and maintain its financial strength, customers should prepare for price increases, but the bigger worry is that of supply. The Toyota GR86 is already sold out in some places and natural disasters have affected the automaker's output in some regions.

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Check out the new 2022 Toyota GR86

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