TOKYO -- Toyota Motor Corp. predicts surging North American sales will deliver its highest profit in five years, as the carmaker rapidly rebounds from last year's natural disasters.
North American sales are seen climbing 25 percent to 2.35 million vehicles in the current fiscal year ending March 31, 2013.
Sales in Toyota's second-biggest market slid 7.8 percent to 1.87 million units in the just-ended fiscal year, as an earthquake in Japan and flooding in Thailand crimped supply. But North America remained one of the company's more profitable regions despite the decline and is poised for growth.
Revived North American sales will power Toyota to near record global sales of 8.7 million vehicles this fiscal year, Japan's largest carmaker said today in its annual earnings presentation.
Toyota's worldwide sales peaked at 8.91 million vehicles, on a fiscal year basis, in the 12 months ended March 31, 2008.