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Toyota jacked up its full-year earnings forecast by a bigger-than-expected 54% to a record $19 billion, raising vehicle sales target as global demand led by China rebounds from pandemic-induced slump
The automaker has informed its main suppliers of the plan, which reflects sales momentum in China and demand recovery in North America and Japan, the Nikkei said, without citing sources
Toyota more than doubled its full-year operating profit forecast, as vehicle sales rebound in China from a pandemic squeeze earlier this year that contributed to a 24% slide in second-quarter earnings
Toyota said it remains deeply committed to the Indian market, refuting once again the claims by a senior company official earlier that it would stop further expansion in India over high taxes
Toyota, one of the world's biggest carmakers, began operating in India in 1997. Its local unit is owned 89% by the Japanese company and has a small market share
Through deepening partnership with Maruti, Toyota in India will be able to draw buyers
The rebadging experiment is the outcome of a broader agreement that Toyota Motor Corp and Suzuki Motor Corp stitched up in March 2018
The move accelerates a trend in China which has seen automakers launch their own ride-hailing services, and ride-hailing firms such as Didi team with automakers
Toyota sees demand for neodymium exceeding supply from 2025, by which time the carmaker intends to be offering an electrified version of every vehicle in its lineup