Toyota to post first profit drop in 2 years as demand cools after big run

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The story "Toyota to post first profit drop in 2 years as demand cools after big run" was covered 2 weeks ago by The Star, a news publisher based in Malaysia.

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The Star 2w ago

Toyota to post first profit drop in 2 years as demand cools after big run - The Star

Quick Summary:

TOKYO: Toyota Motor is expected to post its first profit drop in two years when it reports second-quarter earnings on Wednesday, signalling cooling demand after a run of robust earnings helped by a consumer shift away from electric vehicles.

Toyota Chairman Akio Toyoda argued last month that an EV-only future would lead to job losses across the auto industry.

It faced a delivery suspension of two models in the United States and, like global rivals, is dealing with fierce competition in China, the world's biggest auto market and one where demand for EVs has not cooled.