TOKYO — Toyota set a breakneck pace for Japan's rebounding carmakers as it racked up record results in the latest quarter, all but impervious to the global pandemic and microchip shortage.
The country's biggest automaker notched all-time high quarterly operating profit in the April-June period — $9.6 billion — as well as record fiscal first-quarter results for net income, revenue and global retail sales.
The only headwinds for Toyota's performance were persistent COVID-19 outbreaks and the bottlenecks in the global semiconductor supply chain. Production interruptions pinched inventories, curtailing how much Toyota could cash in on zooming demand in the U.S. and elsewhere.