The world's second-biggest automaker, and first biggest from the land o' the rising sun, announced earnings results for the 1st quarter of 2006, and the numbers...they're good. Ok, really...they're spectacular. Operating income increased 26.5% to 512.4 billion yen ($4.46 billion) off of net revenues of 5.64 trillion yen ($49 billion). And it appears as though much of the growth came from growth in the Asian and, you guessed it, the US market. In an overall U.S. market that shrank 14% last month, Toyota increased its sales by 16%, giving it a best-ever share of 16.4% — beating Ford's 15.3% and well above Chrysler's 10.2%, all of which we pointed out with data and numbers and stuff earlier this week. What's this all mean? It means Toyota's making money...and not just the "operating" kind. it's also making the "net" and "total" kind too.
ToMoCo Is The New FoMoCo: Toyota Passes Ford As #2 US Automaker [internal]