Toyota profits up 39 per cent, may zoom past General Motors

Mumbai: Toyota, the world's second biggest carmaker, reported a 39 per cent jump in its fiscal first quarter (April-June) profit, with strong vehicle sales around the world.

Driven by market- moving fuel-efficient cars and a presence in the largest markets, the Japanese auto giant seems all set to overtake General Motors as the world's No. 1 automaker in the near future.

Toyota is among a number of Japanese vehicle companies like Suzuki and Nissan, which have reported record sales against the falling market share of the once-mighty US automakers like Ford and General Motors.

Toyota has seen robust sales, especially in North America. Its smaller models, such as the Corolla, the light trucks and the Lexus luxury produced healthier profit margins, boosted by their more fuel-efficient engines.

Toyota's profit in April-June totaled €371.5 billion, up from €266.9 billion in the same period the previous year. A weaker yen also helped boost earnings.