A visitor walks through a Toyota showroom in Tokyo Friday, Aug. 3, 2018. Toyota Motor Corp. has reported its quarterly profit climbed 7.2 percent, helped by strong sales in the U.S. and other overseas markets. (AP Photo/Eugene Hoshiko)

Toyota logs record 1Q profit, cuts full year sales outlook

August 03, 2018 - 1:02 am

TOKYO (AP) — Toyota Motor Corp. has reported its quarterly profit climbed 7.2 percent, helped by strong sales in the U.S. and other overseas markets.

The maker of the Camry sedan, Prius hybrid and Lexus luxury models said Friday that its April-June net profit was 657.3 billion yen ($5.9 billion), up from 613.0 billion yen a year earlier. Sales rose 4.5 percent to a record 7.4 trillion yen ($66 billion).

With uncertainties prevailing over possible U.S. tariff increases, the company kept its profit forecast for the full year unchanged at 2.12 trillion yen ($66 billion).

Toyota has invested heavily in U.S. manufacturing facilities but higher tariffs would still sting.

Toyota again released its results before Tokyo's markets closed instead of waiting for the end of trading as has been standard practice for decades.

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