Toyota Posts Record Quarterly Profit on Hybrid Demand

Toyota Motor Corporation announced record operating profits for its fiscal third quarter, with earnings reaching ¥1.68 trillion — a 93% increase year-over-year.

The automaker credited strong hybrid vehicle sales in North America and Europe, where consumers are increasingly opting for fuel-efficient alternatives to fully electric vehicles.

The weaker yen also provided a significant tailwind, boosting the repatriated value of overseas earnings.