Toyota Motor’s profit climbed in the latest quarter, after a weak yen and robust demand in North America boosted sales.
Operating profit was ¥1.31 trillion ($8.7 billion) for the April to June period, up 17% from a year earlier, the world’s biggest carmaker said Thursday. That was mostly in line with the ¥1.32 trillion projected, on average, by analysts. The operating profit forecast for the fiscal year was kept the same, at ¥4.3 trillion.
Hybrids are selling well in North America, making up for sluggish demand for Toyota’s vehicles in Japan and China. At the same time, a weaker yen is helping to boost income in the carmaker’s home currency.