Toyota global sales, profit rise

August 5, 2014

The world's largest automaker by revenue reported a 5% rise in quarterly profit to $5.7 bil, topping estimates for $4.85 bil. Toyota Motor's (TM) fiscal Q1 sales rose 2% to $62.3 bil, also topping, on surging demand for SUVs, including its revamped Toyota Highlander and Lexus GX models. Strong U.S. sales offset falling sales in Japan. Toyota officials forecast auto industry sales of 16.3 mil vehicles in '14. The company aims to sell 2.3 mil in the U.S. and 9.1 mil worldwide. Shares rose 0.8% to 119.03.