Whenever we talk about middling sales and dwindling market shares of certain carmakers, moles pop out of the holes, check their talking points, and shout: “Volume is soooo lame. Awesome profits is where it’s at!” Point taken.
Today, Toyota reported a pre-tax profit of 415.2 billion yen ($ 5.3 billion) for the second quarter of the calendar year. GM’s pre-tax profit was $2 billion for the same period. Volkswagen’s pre-tax profit for the quarter was €5.8 billion ($ 7 billion.) Volkswagen wins this round, with GM a distant third.
Toyota reported a “better-than-expected result that underscored its rebound from the natural disasters that blighted 2011,” says Reuters.
If you don’t see moles popping out of holes, don’t worry, they are still around. They are busy digging for fresh talking points.