TOKYO -- A resurgent Toyota Motor Corp. is back, arguably stronger than ever.
The world's biggest carmaker delivered a fivefold increase in net income in the October-December quarter and lifted its profit forecast for the current fiscal year ending March 31 to record levels.
Hitting that goal would cap a five-year rebound from the dark days when Toyota slumped to its first operating loss in seven decades amid the global financial crisis. The carmaker then was battered by recalls that followed allegations of unintended acceleration, devastation wrought by an earthquake-tsunami in Japan and anti-Japanese backlash in China, the world's largest car market.
But now Toyota is firing on all cylinders. Last year it became the first carmaker to produce more than 10 million vehicles. It kept its title as the world's biggest automaker by selling a record 9.98 million units. And in calendar year 2014 it aims to sell 10.32 million, which would make it the first manufacturer to breach the 10-million sales milestone.