Toyota Motor Corp. said its profit for the first quarter of the fiscal year nearly doubled from a year ago, and set an ambitious, worldwide production goal that would break industry records if reached.The Tokyo-based maker of the Prius hybrid and Camry sedan said profit for the April-June quarter rose to 562.1 billion yen ($5.6 billion) after getting a big boost from a weak yen.
The company also set a worldwide production goal for the 2013 calendar year at 10.1 million vehicles, which would be an industry record, while it stuck to its global vehicle sales goal for the year at 9.96 million vehicles. That puts it in a neck-and-neck race with U.S. rival General Motors Co. for the crown of world’s top automaker.
Read Article