Toyota announces FY2021 results – 9.92 million units delivered; 10.55 million units expected for FY2022

Toyota has announced its financial year 2021 (FY2021) results, which was from April 1, 2020 to March 31, 2021. During that period, the Japanese carmaker managed to sell 9.087 million vehicles across its Toyota and Lexus brands.

Compared to its previous financial year (FY2020) that saw 9.466 million Toyota and Lexus vehicles delivered, the latest figure represents a decrease of 4%. However, this result exceeded the eight million units the company projected back in May last year, during Japan’s first state of emergency in response to the spread of Covid-19.

According to Toyota, 23.7% of the 9.087 million units sold, or 2.155 million units, were electrified vehicles, with hybrids making up the majority (2.087 million) followed by plug-in hybrids (59,000), battery electric vehicles (6,000 units) and fuel cell electric vehicles (3,000 units). This was a greater proportion compared to FY2020, which saw 20.3% of the 9.466 million units, or 1.919 million units, being electrified vehicles.

Widening the scope to include Toyota’s other subsidiaries – Daihatsu and Hino – the company delivered a total of 9.92 million vehicles, which is less than 10.457 million recorded in FY 2019. The decline in sales is brought on by multiple factors, the company said, including the record-breaking cold wave in the United States, torrential rain resulting in floods in Japan, the Fukushima earthquake, a global semiconductor shortage and fire at a supplier’s plant.

As a result, Toyota’s operating income fell to 2.2 trillion yen in FY2021 from 2.4 trillion yen in FY2020. In terms of geographic operating income, only North America and Asia saw increases, while Japan, Europe and other markets were in the red.

For the current financial year (FY2022), which ends on March 31, 2022, the company is forecasting sales of Toyota and Lexus vehicles to climb to 9.6 million, or 10.55 million with Daihatsu and Hino factored in. Likewise, it is also expecting operating income to rise to 2.5 trillion yen.

The post Toyota announces FY2021 results – 9.92 million units delivered; 10.55 million units expected for FY2022 appeared first on Paul Tan's Automotive News.

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