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Toyota's quarterly profit zooms on sales growth, recovery from disaster-plagued last year
TOKYO (AP) ¯¯¯ Toyota says April-June profit zoomed to 290.3 billion yen ($3.7 billion) from 1.1 billion yen on a jump in global sales as the Japanese automaker makes a comeback from a disaster plagued 2011.
Toyota Motor Corp. said Friday its quarterly sales soared nearly 60 percent to 5.5 trillion yen ($70.5 billion), rebounding from a sales crash that all Japanese automakers suffered after the earthquake and tsunami in northeastern Japan in March last year.
Toyota said quarterly vehicle sales nearly doubled from the year before to 2.3 million vehicles as sales rose in North America, Japan, the rest of Asia, Europe and other regions, including Africa and South America.
Toyota said it carried out cost cuts totaling 70 billion yen ($897 million) for the quarter.