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Thursday, May 11, 2006

Another great year for Toyota

Written by: S.M.Mehdi Hassan
Last Week, Toyota has announced its fiscal results of 2006. According to the report Toyota’s earning has raised 17.2%. There is a rise in the company dividend. Company’s net income increased to 1.37 trillion yen from 1.17 trillion yen last year. Since the company made a huge profit it has made a proposal to buy back its shares worth 200 billion yen. This year the majority of the company sales 71.4% were overseas sales. This includes: North America 36.6%, Europe 12.4% and Asia 9.5%. The interesting thing is that overall sales of cars increased in USA, 2.556 million vehicles and decreased in Japan 2.364 million vehicles. The company also performed well in Europe. Sales grew by 44 thousand vehicles to 1.023 million. The major reason behind higher sales in USA is the steady sales of new models including the hybrid Prius. In addition, the company also introduced IMV (Innovative International Multi-purpose Vehicle) models. A great year for a great car company. Wish Toyota All the best!

The time has come for Toyota to be aggressive in the Indian market. Indian market is growing very fast and Nissan is setting up an assembly plant in India now so that it can make good use of cheap labor in India.

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