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U S quarterly auto sales jump on strong SUV demand, shift to EVs
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U S quarterly auto sales jump on strong SUV demand, shift to EVs
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BMW boosts corporate venture investment pool to $900 million
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Toyota forecasts profit rebound amid chip shortage, unveils share buyback Toggle share menu
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Toyota forecasts profit rebound amid chip shortage, unveils share buyback Toyota Motor Corp reported on Wednesday its fourth-quarter operating profit jumped 92per cent, nearly doubling since last year as it shrugged off chip-supply issues and as its sales recovered from the impact of the coronavirus pandemic.
FILE PHOTO: The Toyota logo is seen at its booth during a media day for the Auto Shanghai show in Shanghai, China, April 19, 2021. REUTERS/Aly Song
12 May 2021 12:40PM (Updated:
12 May 2021 03:25PM) Share this content
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TOKYO -Japan s Toyota Motor Corp announced a US$2.3 billion share buyback on Wednesday and forecast annual profit will rise by 14per cent to pre-pandemic levels, as it shrugged off a coronavirus sales slump and a chip shortage that has hurt other car makers.
Toyota to review climate stance as investors turn up the heat
By Aaron Sheldrick
Reuters
TOKYO (Reuters) - Japan s Toyota Motor Corp signalled a shift in its climate change stance on Monday, saying it would review its lobbying and be more transparent on what steps it is taking as it faces increased activist and investor pressure.
The carmaker came under scrutiny after siding with the Trump administration in 2019 in a bid to bar the state of California from setting its own fuel efficiency rules.
Toyota will review public policy engagement activities through our company and industry associations to confirm they are consistent with the long-term goals of the Paris Agreement, it said in a statement, adding that actions will be announced by the end of this year.