Toyota Australia posts $249 million profit

Raymond S. Hughes

Toyota Motor Corporation Australia, beset by unheard-of stock shortages and multi-12 months hold out lists, turned a $249 million right after-tax revenue for the 2021-22 economical calendar year.

Comprising Toyota Australia, Lexus Australia and Revolution (computer software providers) operations, the consequence also involves proceeds from the sale of the Chatswood Toyota dealership in Sydney.

The solid monetary end result is even so down on the $332m soon after-tax gain TMC posted in 2020-21 – which was padded by the sale of its former HQ in Caringbah, and the Sydney City Toyota dealership.

Australia’s major car or truck business operates on the Japanese fiscal year which operates from April 1 to March 31.

Money calendar year product sales by Toyota and Lexus rose by 6.2 per cent to 234,091 automobiles blended, symbolizing more than 1 out of just about every 5 new autos marketed in Australia (22.3 for every cent).

Toyota posted its third-most effective 12 months on report with 223,642 gross sales and made the country’s best-marketing passenger automobile (Corolla), SUV (RAV4), and business (HiLux).

Lexus grew 5. per cent to 9290 revenue, together with a 38.8 per cent hybrid share, and launched its to start with EV (UX300e) and PHEV (the new NX450h+) styles.

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

“… Unprecedented desire for our automobiles, put together with the world wide automotive industry’s shortages of semiconductors and other components owing to COVID supply chain difficulties, has regrettably resulted in prolonged client hold out instances for quite a few vehicles,” he explained.

“Toyota apologises sincerely for the inconvenience currently being knowledgeable by afflicted consumers, and many thanks them for their loyalty and persistence.

“I want to guarantee them that we and our global output groups are executing every thing in our power to secure the highest range of vehicles for our marketplace and as swiftly as achievable.”

Mr Callachor mentioned TMC Australia would donate one particular for every cent of pre-tax gain each individual 12 months to local community programs, setting up with $3.4 million for 2021-22. At any time-conscious of good PR, Toyota was early in returning its federal government JobKeeper payments, back in January 2021.

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