TOKYO — Toyota Motor Corp. posted a 19 percent jump in quarterly profit, its best quarterly performance in two-and-a-half years, on the back of higher sales and cost reductions in Asia.
Operating profit was 682.6 billion yen ($6.11 billion) for April-June, versus 574.3 billion yen a year earlier.
Global retail vehicle sales rose 1 percent to 2.6 million units in the quarter, boosted by an 8.5 percent lift in Asia.
For the first six months, demand for the remodeled Camry helped to increase Chinese sales by 5.4 percent, while Thai sales jumped 26 percent.
Together, sales in those countries helped drive a 40.2 percent rise in first-quarter profit in Asia.
N.A. incentives hit
In North America, Toyota’s biggest regional market, sales rose 3.2 percent due to a rise in demand for its pickups, including the Tacoma and Tundra. Still, profit in the region fell 29 percent as sales incentives continued to weigh.