Toyota Australia posts $249 million profit

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Toyota Motor Company Australia, beset by unheard-of inventory shortages and multi-yr wait lists, turned a $249 million soon after-tax earnings for the 2021-22 economic calendar year.

Comprising Toyota Australia, Lexus Australia and Revolution (software package companies) functions, the end result also features proceeds from the sale of the Chatswood Toyota dealership in Sydney.

The robust money outcome is even so down on the $332m immediately after-tax revenue TMC posted in 2020-21 – which was padded by the sale of its previous HQ in Caringbah, and the Sydney Metropolis Toyota dealership.

Australia’s biggest vehicle firm operates on the Japanese economic 12 months which operates from April 1 to March 31.

Fiscal yr product sales by Toyota and Lexus rose by 6.2 per cent to 234,091 cars put together, symbolizing extra than one particular out of each and every five new autos sold in Australia (22.3 per cent).

Toyota posted its 3rd-ideal 12 months on report with 223,642 product sales and manufactured the country’s best-promoting passenger car (Corolla), SUV (RAV4), and commercial (HiLux).

Lexus grew 5. for each cent to 9290 sales, including a 38.8 for each cent hybrid share, and released its initial EV (UX300e) and PHEV (the new NX450h+) models.

TMCA President and CEO Matthew Callachor said observed the sale of a lot more than 73,000 Toyota and Lexus hybrids for FY21-22, and once more apologised for the large stock shortages – reflective of report purchase intakes.

“… Unparalleled demand for our vehicles, mixed with the world automotive industry’s shortages of semiconductors and other factors thanks to COVID supply chain challenges, has regretably resulted in prolonged consumer hold out times for lots of cars,” he stated.

“Toyota apologises sincerely for the inconvenience remaining expert by affected clients, and many thanks them for their loyalty and tolerance.

“I want to guarantee them that we and our world output teams are undertaking every thing in our electrical power to secure the utmost quantity of cars for our marketplace and as promptly as doable.”

Mr Callachor stated TMC Australia would donate 1 for each cent of pre-tax revenue every single 12 months to neighborhood plans, starting with $3.4 million for 2021-22. At any time-mindful of clever PR, Toyota was early in returning its government JobKeeper payments, back in January 2021.

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