Toyota Australia Posts $137 Million Profit
Toyota Australia has posted an after-tax profit of $137 million for the year ending 31 March 2018 (2016-17: after-tax profit of $99 million).
There were 229,258 Toyota and Lexus vehicles sold locally and 25,791 vehicles exported during the 2017-2018 financial year.
"This successful result is a testament to the dedication and commitment of the entire team here at Toyota Australia, both past and present," Toyota Australia president Matthew Callachor said.
"We have now completed our transition to a sales, marketing and distribution business, and the fact that we have been able to increase both local sales and market share shows that our organisation is moving from strength to strength.
"Our focus has turned to the changes facing the automotive industry. We are cognisant of the impact that possible emissions regulations, autonomous vehicles and connected technology will have on the whole industry."
Milestones throughout the financial year included the launch of the all-new Camry. Sales of the hybrid variants have exceeded expectations, demonstrating the company is well progressed towards its global aim of reducing vehicle emissions by more than 90 per cent by 2050.
"Our financial results, in conjunction with our strong dealer network and our employees' capability, will enable Toyota to successfully navigate the challenges of the future," Mr Callachor said.
Due to the 2014 announcements that Toyota Australia would stop manufacturing and consolidate its corporate operations by the end of 2017, the company incurred restructuring costs of $147 million in this financial year to complete the transition (2016/17: $131 million).