Toyota Motor has projected an increase in operating profits for the full-year by 4.3 percent.
For the third quarter, the company has found good sales growth in the Asian and European countries.
Earnings have largely improved in China. Sales are high in North America too. Though the economic conditions in China have fallen down, Toyota has found good growth in its market.
The third-quarter results show a 20 percent improvement in Chinese sales. This has lifted the sales volume by 9.2 percent in Asia. The falling yen has added to an increase in profits.
In North America, it has sold about 665,000 units, while in Europe the growth has been 4.8 percent. In all, the volume of sales has risen globally by 1.9 percent.
Toyota Motor Corp may drop its underperforming models in North America. Jim Lentz, the CEO of the North American company, says that profitable segments are to be improved upon to bring in brand value.
The Yaris has been underperforming this year. It has come down by almost 80 percent for the year. The Prius C, another version of the Prius Hybrid is also finding less movement in the market. It has come down by almost 30 percent for the year. However, convertibles and sports coupes are finding more demand.
The chief executive Akio Toyoda has shown interest in new technology for investment and in improving the traditional business in Toyota.
Cost-cutting operations are undertaken by the company’s chief financial officer Koji Kobayashi.
Mr. Lentz intends for an increase in hybrid vehicles. It will lift up the sales in the United States by almost 15 percent before 2020. Currently, it is 9 percent. Hybrids have increased sales by almost 3.5 percent in sales in the U.S.
Hybrids can be more economical and fun to drive says, Mr. Lentz. Rebranding them will help consumers show more interest in them, he feels.