Jakarta, CNN Indonesia –
Net profit Toyota in 2020 it jumped 10.3 percent despite being hit by the pandemic covid-19. The company also announced its growth projection despite the semiconductor chip crisis on Wednesday (12/5).
While the pandemic hit auto demand because people traveled less during the pandemic, the Japanese company is bouncing back faster than its competitors. The company also managed to overcome a shortage of chips which forced its rivals to cut production targets.
“Although sales decreased in the first half of the year due to the impact of the corona virus, in the middle of the year afterwards we saw an increase in sales in many areas,” said Kenta Kon, Head of Toyota’s Finance Division. France24, Friday (14/5).
Toyota said for the financial year ended March, the company posted sales of 2.25 trillion yen, or US $ 20.6 billion, over the previous year’s sales of 2.04 trillion yen.
Meanwhile, for the financial year ending March 2022, Toyota is targeting to score a net profit of 2.4 percent or 2.3 trillion yen.
“Toyota’s performance is outstanding when compared to its competitors. Toyota can maintain stable production and release models on time in key markets,” said Satoru Takada, Automotive Analyst at Tokyo’s research and consulting institute TIW.
For information, the pandemic has hit the global automotive sector in the first half of last year. However, it started to recover in the second half, especially in the United States and China.
(yes / age)
– .
