TOKYO — Toyota Motor Company said its income jumped 39.2 percent to $3.2 billion during the second quarter, boosted by strong sales of fuel-efficient vehicles in the United States, where it passed Ford Motor Company in July sales to rank as the second-biggest automaker behind General Motors. Toyota, which already ranks as No. 2 in the world, appears on pace to pass G.M. as the world’s biggest auto company, perhaps as soon as this year. Toyota, which earned $2.3 billion in last year’s second quarter, said its revenue rose 13.2 percent while its vehicle sales rose nearly 8 percent worldwide, to just over 2 million. For the full year, Toyota said it still expects to meet its profit forecast of about $11.3 billion and its sales forecast of $194 billion. Toyota’s sales were led by the Corolla, the best-selling small car in the United States, the RAV-4, a small sport utility vehicle, and the FJ Cruiser, a gutsy S.U.V. aimed at younger buyers. Toyota also said its results were boosted by the strength of the yen. Friday’s results came as Toyota has speeded efforts to deal with a spate of recalls, both in the […]

Read the Full Article