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Toyota quarterly profit soars to $A3.5b


Toyota says April-June profit soared to Y290.3 billion ($A3.56 billion) from Y1.1 billion ($A13.48 million) on a jump in global sales as the Japanese company makes a comeback from a disaster plagued 2011.

Toyota Motor said on Friday its quarterly sales revenue jumped nearly 60 per cent to Y5.5 trillion, rebounding from a sales crash that all Japanese car makers suffered after the earthquake and tsunami in northeastern Japan in March last year.

Toyota said quarterly vehicle sales nearly doubled from the year before to 2.3 million vehicles as sales rose in North America, Japan, the rest of Asia, Europe and other regions, including Africa and South America.

Toyota said it carried out cost cuts of Y70 billion in the quarter.

The company increased its global sales target for this year to 9.76 million vehicles.

The new target was a 23 per cent increase over sales in the previous year.