So...have you heard President Obama on the campaign trail touting his "saving" of General Motors, Inc? He likes to say that it is the #1 car maker. Well, it's not. That would be Toyota.
TOKYO: Toyota’s quarterly profit tripled, driven by a recovery from natural disasters, and the company raised its full-year earnings forecast Monday despite a sales slump in China.
Toyota Motor Corp., on track to regain the crown of world’s No. 1 automaker this year, reported a July-September net profit of 257.9 billion yen ($3.2 billion) compared with an 80.4 billion profit a year earlier. The result was better than the 238 billion yen ($3 billion) quarterly profit forecast by analysts surveyed by FactSet.
Food for thought...General Motors didn't have to deal with devastation to it's physical plants due to a huge Tsunami. Toyota did, and they still kicked GM in the last fiscal quarter. Shocking that our President would...oh, I don't know...lie.Japan’s top automaker raised its profit forecast for the full fiscal year through March 2013 to 780 billion yen ($9.8 billion) from 760 billion yen ($9.5 billion).