Wednesday, November 08, 2006

Toyota Raises Profit Outlook For 2006

Toyota Lifts Profit Outlook, Invests in Fuel Efficiency
By AMY CHOZICK November 8, 2006; Page A3, The Wall Street Journal

TOKYO -- Toyota Motor Corp. raised its profit outlook for the year and took steps to expand its lineup of fuel-efficient vehicles, a market that is helping the auto maker outpace its competitors in the crucial North American region.
Toyota -- known for its Camry and Corolla sedans, Prius gasoline-electric hybrid and upscale Lexus line -- has enjoyed brisk sales in North America, where its fuel-efficient vehicles have attracted customers amid high gas prices. That market helped push Toyota's net profit up 34% in its fiscal second quarter.
To further expand its presence in that market, Toyota said it is buying a 5.9% stake in Japanese truck maker Isuzu Motor Corp. for 44 billion yen ($372 million) from two Japanese trading houses as part of a new collaboration to develop small diesel engines and alternative-fuel technologies...read more: here