News Summary: Toyota quarterly profit triples

News Summary: Toyota quarterly profit triples to $3.2B, ups forecast despite China sales slump

Associated Press

RECOVERY: Toyota Motor Corp.'s quarterly profit tripled to 257.9 billion yen ($3.2 billion) as the automaker recovered from the tsunami disaster in Japan and flooding in Thailand. Quarterly sales improved 18 percent to 5.4 trillion yen ($67.6 billion).

BETTER OUTLOOK: The company raised its full-year earnings forecast despite a sales slump in China, where a dispute over tiny islands has set off protests and a boycott of Japanese cars in recent months.

TOPPING GM: Toyota is on track to regain the crown of world's No. 1 automaker. It now expects to sell 8.75 million vehicles for the year ending March 2013. That's down from 8.8 million forecast offered earlier this year.

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