Toyota Sees Profit Slip But Beat Earlier Forecasts

Toyota sees profit slip but beat earlier forecasts

TOKYO — Toyota's July-September profit fell 11% from a year earlier as the coronavirus pandemic slammed global demand, but Japan's top automaker appeared to be holding up better than weaker rivals that have sunk into the red.

Toyota reported Friday a quarterly profit of 470.5 billion yen ($4.5 billion), down from 530 billion yen a year ago. Quarterly sales slipped to 6.77 trillion yen ($65 billion) from 7.64 trillion yen.