Toyota did not upgrade its forecasts for the year
Toyota (LON:TYT) posted on Wednesday a record $8.2bn profit for Q1 in a show of the car company’s robustness in the face of the challenges posed by the pandemic.
For the same period a year ago the company recorded a profit of $127.4m.
Its quarterly sales rocketed on a year-on-year basis to $73bn, a new record for the Japanese company.
Despite the impressive results, concerns remain for the car manufacturer, including a shortage of semiconductors and an increase in the cost of materials.
As a result, Toyota did not upgrade its forecasts for the year, instead opting to keep them at the same level of $21bn profit and 9.6m vehicles in global retail sales.
The Toyota share price on the London Stock Exchange is up by 0.11% in the early afternoon on Wednesday.
 posted on Wednesday a record $8.2bn profit for Q1 in a show of the car company's robustness in the face of the pandemic.){kind=link}