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Toyota executives expect President Donald Trump The company’s car tariff will cost $ 1.3 billion in April and May.
The auto industry company, which reported its highest annual profit ever in the past year, according to The New York Times, On Thursday, the profit expects a decrease of approximately 20 % in the current fiscal year.
The world -selling car manufacturer said it expected the total operating income of 3.8 trillion yen ($ 26 billion) in the year until 2026, compared to 4.8 trillion yen ($ 33 billion) in the year that has just ended.
“Whether these definitions are permanent or not, and what will happen is not something we can decide,” CEO Koji Sato said during a press conference.
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The CEO of Toyota Motor Koji Sato, surrounded by CFO YIIIIZI MIYAZAKI and head of the Masahiro Yamamoto Accounting Group, attends a press conference for their financial results in Tokyo on Thursday. (Isei Kato / ROUTERS)
Toyota’s results also show how customs tariffs have the ability to hit companies on a number of fronts simultaneously. While the auto industry company estimated that the fees that cost it directly 180 billion yen in April and May, it said that the movement of currency will be the largest impact on its expectations for the entire year, as it reached 745 billion yen.
Understanding about Trump’s tariff and its effects on World Trade Weight on the dollar. For Toyota, the weakest dollar means less profit when American profits are brought home.
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Employees are working on the Yaris Cross cars collection line at the Toyota Motor Motor Motor France Factory in OnNAING near Valenciennes, France, on April 4, 2024. (Benoit Tesseh / Reuters)
Analysts have warned that customs tariffs can lead to high prices of buyers in the United States and other places, which leads to a decrease in consumer morale.
The operating profit for the three months until March was flat, as it increased by 0.3 % to 1.12 trillion yen.
| index | protection | last | Changing | % Change |
|---|---|---|---|---|
| TM | Toyota Motor Corp. | 188.01 | -0.94 |
-0.50 % |
Toyota Motor Corp. And Daihatsu Motor Co. In Toyota, Atchi Governorate, Japan, on April 30. (Toru Hanai / Bloomberg / Getty Images)
“At the present time, things are very pink in the United States just because customers feel panic and rush to the market to buy cars. But what happens if these tariffs continue? You need to raise prices,” Christopher Richter, a CLSA car analyst, told Reuters.
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“Can you grow this sales like that? I don’t know,” he said.
Reuters contributed to this report.
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