Toyota’s profits rise 78% on strong sales as the parts crunch eases

Toyota’s profit for the first fiscal quarter jumped to 1.3 trillion yen (Koji Sasahara/AP)

Toyota’s profit for the first fiscal quarter jumped to 1.3 trillion yen (£7.1 billion) — a quarterly record for Japan’s top automaker — as sales grew and parts shortages related to the coronavirus pandemic eased.

Toyota Motor Corp’s April-June net profit rose 78% from 736.8 billion yen (£4 billion) the previous year, the company reported on Tuesday.