Toyota Financial Results for 2021 Revealed
Last week, Toyota financial results for the fiscal year that ended March 31st were announced. Vehicle sales totaled 7,646,000, a decrease of 1,309,000 units, or a little less than 15 percent compared to the previous fiscal year.
Net revenue was $256.7 billion, an 8.8 percent decrease. Operating income decreased from $22.6 billion to $20.7 billion, while income before taxes amounted to $27.6 billion. Net income was up from $19.2 billion to $21.1 billion.
North American sales of 2,313,000 were down 400,000 from the year prior, while operating income rose by $866 million to $3.4 billion.
In Japan, Toyota sold 2,125,000 units, 115,000 fewer than in 2020. Here, operating income dropped by $4.1 billion to $10.8 billion.
Vehicle sales in Europe declined 70,000 units to 959,000, while operating income dropped $183.9 million to $1.0 billion.
Asian sales of 1,222,000 units fell by 378,000, while income rose $535.8 million to $4.1 billion.
Other regions totaled 1,027,000 vehicles, a 345,000 downturn. Operating income fell $106.6 million to $611.3 million.
Fiscal year predictions for 2022 are for a 13 percent increase to 8.7 million vehicles.
Net revenues would rise to $285.7 billion, while operating income rebounds to $23.8 billion. Net income before taxes will go up to $29.6 billion, and net income will advance to $21.9 billion.
Toyota financials aside, the company used this stage to address carbon neutrality in a prepared statement by Chief Digital Officer, James Kuffner. Toyota’s commitment is to achieving 100 percent carbon neutrality by 2050 or sooner, Kuffner stated.
Zero CO2 emissions throughout manufacturing, transporting, operating, fueling or charging, and recycling and disposing of vehicles is the goal.
Toyota offers a lineup of 55 electrified vehicles (EV) worldwide. Combined EV sales volume is more than 2 million vehicles per year.
Toyota’s total cumulative carbon emissions reduction has been 140 million tons over 20 years, equal to removing 1.5 million passenger vehicles every year.
Toyota will introduce 15 battery electric vehicle models globally by 2025, including seven recently-announced Toyota bZ models.
This is in addition to expanding and improving their lineup of hybrid electric vehicles (HEVs), plug-in hybrid vehicles (PHEVs), and fuel cell electric vehicles (FCEVs).
Toyota will make investments in new battery technology, such as solid state batteries, to support these products.
More than 1.4 billion vehicles are in operation worldwide, most with internal combustion engines (ICE). Toyota wants to clean up the world’s ICE vehicle fleet that will still be running for the next 10-15 years. I don’t foresee giving up my gas-powered vehicles as part of any clean-up effort, do you?
Join the conversation
Latest Car ReviewsRead more
Latest Product ReviewsRead more
- 28-Cars-Later Staying in the Strip? Downtown? Elsewhere?
- FreedMike Toyota might not be wrong to continue betting on hydrogen - the science behind extracting it is advancing pretty rapidly. This is an example of the kind of work that's going on (paywalled story, but it's a good one): Opinion | A Gold Mine of Clean Energy May Be Hiding Under Our Feet - The New York Times (nytimes.com)Hydrogen has some major advantages over electricity to run vehicles, mainly a) quick refueling, and b) the distribution process would look a lot like the one for gasoline, in which a truck hauls the fuel to a fueling station and fills up the underground tanks. It's a lot easier, quicker, and cheaper to retrofit gas stations with hydrogen tanks than it is to completely redo the electric grid and establish hundreds of thousands - even millions - of charging points. If the extraction tech works, then I'd say hydrogen is actually a superior fuel for cars to electricity.
- GrumpyOldMan No/almost no rust, yet all the floors have been replaced? Hmmmm.....
- Wjtinfwb Great looking Supra, one of my all time favorites that "got away". In this era, I was driving a 280ZX which I really liked, but was more of a boulevardier than a sporting car. I looked at these Supra's from the '82 introduction but couldn't quite swing the price. Plus, I was sure the next Datsun Z would hit it out of the park. '84 came and Nissan gave us the disco 300ZX, which i disliked intensely. Supra's we're getting harder to find and more expensive as this generation wound down. Then, the howl of a small block Ford with a 4 barrel Holley caught my ear and I was sold. An '85 Mustang GT took the place a Supra should have occupied and that was it. The next gen Supra was, much like the 300ZX, more of a cruiser than the previous generation and more expensive. Several Mustang's and VR6 GTi's later I'm now back to looking for a Supra only to find out they're more expensive after almost 40 years than they were when new!
- Kwik_Shift Knobs, buttons and even sliders would be good.
"So, students, we see that Toyota's global volume dropped by ~15 percent while Revenue only dropped by ~9 percent. What does this tell us about revenue per unit? Yes Mary Barra, you have the answer? Jim Farley, I see you nodding furiously in the first row, but let's let Mary answer this time. Yes Jim, Platinum Trim has amazing margins - right - yes, Jim." "Rick Wagoner, hey been awhile, thanks for popping in but no, the answer is not 'Market Share' - are you even registered for this class?" "And then we see that Europe is barely worth the trouble... oh - Carlos Tavares - you disagree?"
Is there anything Toyota cannot do?