Toyota raised its full-year global production forecast to 10.12 million vehicles from the previous forecast of 9.94 million vehicles, including production at Daihatsu Motor Co. and Hino Motors Ltd. If Toyota reaches that target, it would be the first automaker to build more than 10 million vehicles in a given year.
In the United States, Toyota sold 1.3 million vehicles in January-July, up 8 percent from a year ago. July sales increased 17 percent to 193,394 units, the fastest expansion since January, as the company offered competitive leases and cranked up incentives for its best-selling Camry.
The United States is Toyota's biggest market, accounting for nearly a quarter of its global sales. Its January-July market share dropped by 0.1 percentage point to 14.3 percent.
Weaker yen boost
Toyota is benefiting from Japan's efforts to weaken the yen, which makes exports more profitable. The yen has fallen by almost 13 percent against the dollar this year.
The company's quarterly operating profit, or sales minus the cost of goods sold and administrative expenses, climbed 88 percent to 663.4 billion yen. Revenue rose 14 percent to 6.26 trillion yen.
Toyota's operating profit from North America unexpectedly fell 30 percent to 82.6 billion yen from 117.6 billion yen a year earlier.