Toyota Motors Excited About Profit Reports and Begins to See Improvement After Recall Disaster

Online, August 4, 2010 (Newswire.com) - NASSAU- This time last year Toyota was in a desperate battle to reclaim its name and place within the auto industry after a disastrous recall of some if it most popular models spread like wildfire worldwide.

The auto manufacturer posted a net income of $2.2 billion for its first fiscal quarter, a stark difference from the nearly $910 million loss it faced a year ago.

Sales within Asia helped to fuel the quarter results as the company sold over 250,000 vehicles in the region, 50 percent more than where they stood in 2009.

Asia was not the only place Toyota saw positive growth and gains, as North American sales reports state the company rose 36 percent from the previous year selling well over half a million vehicles.

Toyota has an optimistic outlook towards their future, with expectations of selling 7.4 million vehicles worldwide over the next year, which is 200,000 more than they will have sold this year.

The reports of its strong first quarter results have also helped raise company morale, and raising profit and revenue forecasts on the year.

Toyota is hoping for net incomes to reach $3.9 billion in March of 2011, with revenues rising to $226 billion, and compared to its previous hopes of $3.6 billion and revenues of $223 it shows the company has a renewed confidence with their market placement.

Some setbacks however may be in their future too with fluctuations in foreign exchanges, and the ending of incentives within Japan. Toyota officials still remain much more optimistic about the company's future and outlook moving forward.

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