Unintended acceleration settlement hits Toyota's Q4 bottom line
Operating profit also fell in the US by 9 percent to $498.1 million for the quarter, but sales were up by 6 percent to 581,261 vehicles. According to Automotive News, global revenue was still up from January to March by about 13 percent and vehicle sales were up 6 percent to 2.58 million units.
However, the payment to the feds did little to hold the company back last year. For the fiscal year ending March 31, 2014, Toyota had net income of 1.82 trillion yen ($17.7 billion), compared to 962.1 billion yen ($9.5 billion) in the last fiscal year. Total vehicle sales were also up.
The settlement certainly seemed to stagger Toyota for the quarter, especially in the US. But it didn't do much overall. The company still posted exceptional results for the fiscal year.
- Most and least efficient car companies
- Fastest-depreciating cars in the United States
- Find and compare 2017 Models