Toyota’s North American Sales Gain 45% in 3Q12

Toyota Motor Corp.’s North American sales soared 45% last quarter as its regional operating profit doubled, giving the manufacturer an increase in its 2012 profit outlook.

At the end of the quarter, Toyota’s second fiscal quarter, North American sales rose to 598,000 from 413,000 in the same quarter last year, which saw worldwide sales affected by the Japanese earthquake.

Toyota’s North American operating profit leapt to 64.9 billion yen, or $807.1 million, during the third quarter, up from 32.5 billion yen in 3Q12. At 257.9 billion yen, or $3.2 billion, the company’s global net profit more than tripled. 

“In North America, operating income improved as a result of increased vehicle production and sales, despite the decreased contribution from financial services,” said Toyota’s Executive Vice President Satoshi Ozawa.

With auto demand in the U.S. continuing to bounce back, and Toyota’s supply back to normal, the company’s North American production increased 42% to 391,000 vehicles, and the robust sales equalized slumping sales in China. Toyota, Japan’s largest auto manufacturer, increased its full-year net profit by 2.6%, despite a territorial dispute that cut sales between the two counties in half.

Toyota’s U.S. sales were up 16% last month from October 2011, which resulted in the company’s marketshare, which also includes luxury offshoot Lexus, rising to 13.9% from 12.3% last year.