Recall, What Recall? Toyota’s Billion Dollar Profits
Remember that little Toyota recall and bad PR everyone thought would ruin the Japanese auto maker? Yeah, it did nothing. At the end of Quarter 2, Toyota has posted a $2.2 Billion dollar global profit.
Much of it was due to a rebounding auto market in the United States where a fall in loan defaults and rising sales produced boyant numbers at Toyota’s financial services arm which accounted for 85 percent of its total North American operating profit.
There is more good news for Toyota, which took a hit on U.S. consumers’ view of the brand with the recalls. According to YouGov BrandIndex, a company that tracks consumers’ attitudes towards brands, Toyota is back to an overall positive image.
Source: WCF
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