Toyota reports 1.5 per cent rise in European car production

Japanese car manufactuer Toyota has reported a slight increase in its European car production business segment for the nine months to December 31st, a financial update issued by the company on Tuesday has disclosed.

European car production rose by 1.5% to 266,757 units in the first three quarters of fical year 2013 ending December 31st, compared to the corresponding period in the fiscal year 2012.

Net revenues in Europe increased 2.1% to 1,517.9bn Yen over the same period while operating income increased by 149.3% over the corresponding timeframes.

The increase in operating income was described as being mainly due to increases in both production volume and vehicle unit sales.

Over this period, European car production represented the minority of global light vehicle manufacture at just 4.15% of total production, with the vast majority of automobiles being manufactured in Japan and North America.

By contrast, car production in Japan rose 17.8% to 3.2m over the same three quarter period compared to the corresponding period in fiscal year 2012 while the North American business segment saw car production rise 49.1% to 1.2m over the same time frame.

Total consolidated net revenues rose 26% to 16,227,106m Yen, while operating income rose 598% to 818,507m yen. Major factors contributing to the increase in operating income included the positive effects from marketing activities generating 660.0bn Yen and cost reduction efforts saving 320.0bn Yen.

MF