Cars and Drivers
Toyota (TM) Makes Profit, Raises Forecast, Projects $2 Billion Costs For Recall
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Toyota (NYSE:TM) posted a profit of $1.7 billion in the quarter that ended December 31 due to cost cuts and improved sales in Asia and the US. Sales rose 10%.
Toyota also raised its outlook for the current year and said recall costs would be $2 billion. If sales are drastically affected by safety concerns, that forecast is almost certainly too optimistic.
Douglas A. McIntyre
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