none

Toyota Australia posts $220m yearly profit

31-08-2010
by 
in 
Toyota Australia posts $220m yearly profit

Toyota Australia has reported a profit of $220.9 million (after tax $149.1 million) for the year ending March 31, 2013.

Total revenue for 2012/13 was $8.9 billion, up almost 23 per cent on the previous year. Domestic retail volume of both Toyota and Lexus vehicles was more than 20 per cent higher with 225,599 sales in the same period.

The profit is encouraging in the wake of Ford’s announcement last month it would cease production at its Victorian vehicle-making plants in 2016.

Toyota’s profit rise is attributed to the return to full production following the impact of the Japan earthquake and Thailand floods during the previous 12-month period.

Toyota Australia vehicle production was up almost seven per cent in 2012/13 with 99,441 vehicles built compared to 92,880 the previous year.

A total of 69,676 of these vehicles were exported to the Middle East, New Zealand and the South Pacific Islands.

Toyota Australia President and CEO Max Yasuda said the company continues to introduce exciting new product offerings for Australian motorists, consistent with Toyota’s global vision to provide customers with “always better cars.”

“Our products have contributed to our continued growth. Last year we introduced three brand new vehicles – the Prius c, Prius v and the 86 sports car – along with many next generation vehicles, all of which appealed to Australian customers,” Mr Yasuda said.

“Our locally built Camry, Camry Hybrid and Aurion vehicles continue to sell well in both domestic and export markets. This demonstrates we are building high quality and durable vehicles that Australian motorists want to buy and enjoy, with the Camry being the best selling vehicle in its segment for 19 years in a row.”

The company also adopted new technology to remain globally competitive.

“We opened a new $330 million engine plant late last year, becoming the first Australian manufacturer to produce both petrol and hybrid engines. This has opened new export opportunities with Thailand and Malaysia and allowed us to enhance our local manufacturing capabilities,” Mr Yasuda said.

Another factor contributing to the profit is Toyota Australia’s company-wide transformation plan established to strengthen its business.

Mr Yasuda said the company was 15 months into a five-year plan developed in response to ongoing external challenges including the high Australian dollar, intense market competition and the high cost of materials. The main objective of the plan is to secure a solid foundation for future growth in Australia.

Toyota Australia employs about 4200 people across Australia. 

Related news & editorials

  1. 22.02.2019
    22.02.2019
    by      In
    Early in 2018, Lifting Victoria was appointed as an authorised agent for Hyva, a leading manufacturer of truck cranes, and skip and hook loaders.
    Since the appointment, Lifting Victoria has experienced continued growth in providing truck crane installation services to clients across Victoria, but... Read More
  2. 21.02.2019
    21.02.2019
    by      In
    As information technology (IT) departments become more sophisticated and improve their identification and response to cybersecurity breaches, many manufacturing companies (particularly at the SME scale) are becoming more susceptible to cyber attacks via their operational technology (OT).
    According... Read More
  3. 19.02.2019
    19.02.2019
    by      In
    The adoption of artificial intelligence is rapidly growing in the workplace; however, to take full advantage of the opportunities, businesses need to overcome lingering doubts from their customers and employees, according to new research from Genpact, a global professional services firm focused on... Read More
  4. 19.02.2019
    19.02.2019
    by      In
    The 2018 needles in strawberries episode served as a warning to all of Australian industry: failure to take security seriously can have disastrous consequences. However, it also served to highlight just how vulnerable manufacturing industry is to malicious acts, whether by disgruntled employees or... Read More