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Toyota Reports 11 Percent Jump in Profit

TOKYO -- Japan's top automaker Toyota said Wednesday its July-September quarter profit rose 11 percent on solid overseas sales and raised its earnings forecast for the full year, according to the Associated Press

Soaring gasoline prices have boosted the appeal of Toyota's hybrid Prius and fuel-efficient models, such as the Camry and Corolla. Although sales were stagnant in Japan, Toyota sales were strong in North America, Europe, Asia and emerging markets.

Toyota's net profit for the fiscal second quarter rose to 450.9 billion yen ($4 billion) from 405.7 billion yen the same period the previous year. Sales increased 11 percent to 6.490 trillion yen ($57 billion), the company said in a statement.

Posted by Peter C. T. Elsworth  at 9:46 AM to Toyota | Permalink

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