Toyota’s first quarter profit jumps 39%

On Friday, Toyota motors, the world’s second biggest automaker, reported a jump of 39% in the first fiscal quarter.

Last year in the same fiscal quarter, Toyota had earned $2.3 billion, whereas, this fiscal, the earnings went upto $3.2 billion i.e. it went up dramatically by 39.2 percent from the same period the previous year. A weaker yen helped earning and added up $871 million to the operating profit. The sales boosted up by 13%.

It is the fuel efficient nature of Toyota cars which has made its sale accelerate as the drivers are jibbing at the soaring gas prices. Toyota is among a clasp of Japanese vehicle companies reporting full-bodied results lately in contrast to the plight of the U.S. automakers.

Auto analyst, Koji Endo said that everything is going well for Toyota, especially in North American sales.

Even the heavy models of the company are being doing well and have produced healthier margins than the smaller vehicles.

It seems that Toyota is on the cartroad to overpower General Motors and be on the number one slot in the auto making business.

Toyota sold $2.3 billion vehicles around the world in the latest quarter, up from $1.95 billion the same period a year earlier. General Motors sold $2.4 billion vehicles globally in the same quarter.

But Toyota is now challenged with their own troubles because they want to cut down the costs by using same parts across different models.