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The world's largest automaker reported an almost 50% drop in quarterly earnings.
Toyota estimates the Iran war will cost it $4.3 billion by March 2027.
KEY POINTS
- Toyota's full-year profit outlook is 35% below analyst forecasts, projecting 3 trillion yen operating profit.
- Sales of Toyota hybrids are expected to surpass 5 million vehicles for the first time ever this year.
- Toyota attributes $400 million of its crisis cost estimate to higher material and fuel prices, and $270 million to logistics delays and lower volumes.
- Q1 2024 operating profit fell nearly 50%, mainly due to the Middle East crisis and supply issues.
COMPANIES
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