12 May 2010

Toyota announces $US1.2bn profit

3:04 pm on 12 May 2010

The world's largest carmaker, Toyota, made a profit in the fourth quarter despite the recall problems reaching their height.

Toyota made $US1.2 billion in the three months to the end of March, a rebound from a loss in the same quarter a year ago.

The company was forced to recall more than eight million cars because of safety concerns, but cut its prices to keep buyers going into showrooms, the BBC reports.

Despite the safety issues, Toyota expects better financial results for the next financial year, with profits of about $US3 billion.

Toyota president Akio Toyoda says the Japanese car-maker is working hard to ensure safety.