By Stephen Wilmot
President Trump's tariffs will cost Japan's largest carmaker an estimated $1.2 billion for April and May alone.
Beyond that, Toyota Chief Executive Koji Sato said Thursday, it was "very difficult to forecast" because details of the tariffs were still fluid, as U.S.-Japan talks continue.
For the year through March, Toyota said operating profit totaled some $33 billion- down from a year earlier, but higher than it previously expected, thanks to a weak yen and resilient prices.
More consumers are embracing the hybrid technology Toyota pioneered. Full hybrids accounted for 43% of all Toyota and Lexus vehicles sold in the year, up from 35% in the previous year.
Toyota, which is known for giving cautious guidance, forecast a 21% decline in operating profit this year. It pointed to tariffs, growth investments, a stronger yen and pricier raw materials.
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(END) Dow Jones Newswires
May 08, 2025 06:41 ET (10:41 GMT)
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