(MENAFN) Toyota said its annual profit accelerated 19 percent to a record USD18.1 billion as it capitalized on a weak yen and strong demand in North America, The Peninsula Qatar reported.
The world's biggest automaker beat earlier forecasts with its USD18.1 billion net profit in the fiscal year to March, bigger than the combined 2014 profit of Volkswagen and General Motors.
Revenues at the Corolla and Prius hybrid maker rose 6 percent to USD227.15 billion. Despite weakness in Asia, Toyota also said it was on track for a bigger USD18.76 billion net profit in the current business year.
"We are expecting the North American market to continue its strong performance, but we see sales volume falling in Asia where the environment is becoming increasingly tough," Executive Vice President said.
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