Despite Recalls, Toyota Reports $2.2 Billion Annual Profit

May 11, 2010 - In a fiscal year marred with recalls and lawsuits, Toyota still managed to report a huge profit these last 12 months and expects to earn even more in the coming fiscal year.

Toyota reported a $2.2 billion annual profit, up from a $4.4 billion loss the previous year. This $6.6 billion swing happened despite the recall of nearly 10 million cars and a 7.7% dip in global sales.

The company expects its net profit to increase by 48% to $3.3 billion in the fiscal year that ends in March 2011.

Read more at Toyota Daily Report:
Toyota Sales News - http://toyota.einnews.com/news/toyota-sales

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