Toyota forecasts stronger sales in North America, weaker sales in Asia and Europe - 0 views
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Matthew Wonnacott on 06 Nov 12Toyota Motor Corporation announced on 5th November a sharp increase in H1 2012 revenues of 36.1% y-o-y compared with the same period in 2011. The increase was largely due to base effects associated with last year's Japanese earthquake and tsunami. As part of the announcement, Toyota revised up their annual profit forecasts to JPY1.05T from JPY1.0T (US$13.29B from US$12.66B). However, Toyota revised down overall expected 2012/13 car sales by 50,000 units. This was driven by downward revisions to Asian and European sales forecasts, 50,000 and 40,000 units, to 1.73M and 790,000 units respectively. North America was a bright spot for Toyota, with expectations for full year North American automobile sales revised up by 20,000 units to 2.4M vehicles.