Toyota Motor Corporation Australiasurrounded by Unprecedented stock shortages and years-long waiting listsreached $249 million in after-tax profits for the 2021-22 fiscal year.
Including operations for Toyota Australia, Lexus Australia and Revolution (software services), the results also include proceeds from the sale of the Chatswood Toyota dealership in Sydney.
However, this strong financial result comes down to TMC’s $332 million in after-tax profit for 2020-21 – which was boosted by the sale of its former Caringbah headquarters and Toyota dealership. in the City of Sydney.
Australia’s largest car company operates under the Japanese financial year, which runs from April 1 to March 31.
Toyota and Lexus fiscal year sales rose 6.2% to 234,091 vehicles combined, accounting for more than one in five new cars sold in Australia (22.3%).
Toyota announced its third best year record with sales of 223,642 units and became the country’s best-selling passenger car (Corolla), SUV (RAV4) and commercial (HiLux).
Lexus grew 5.0% to 9290 sales, including 38.8% hybrid market share, and launched its first EV (UX300e) and PHEV (new NX450h+) models.
TMCA President and CEO Matthew Callachor said it noted the sale of more than 73,000 Toyota and Lexus hybrids for the 21-22 financial year and once again apologizes for the extreme shortage – reflecting the volume of orders. record order.
“…Unprecedented demand for our vehicles, combined with shortages of semiconductors and other components of the global auto industry due to the COVID supply chain challenge, has unfortunately resulted in extending customer wait times for a wide range of vehicles,” he said.
“Toyota sincerely apologizes for the inconvenience affected customers have suffered, and thanks them for their loyalty and patience.
“I want to assure them that we and our global production teams are doing everything in our power to secure the maximum number of vehicles for our market as quickly as possible.”
Mr Callachor said TMC Australia would donate one per cent of annual pre-tax profits to community programs, starting at $3.4 million for 2021-22. Always conscious of smart PR practices, Toyota soon returned JobKeeper payments to the government in January 2021.
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