Toyota does not see the car market start again before the end of 2020 / beginning of 2021 – L'Usine Auto – L'Usine Nouvelle

Toyota does not see the car market start again before - Toyota does not see the car market start again before the end of 2020 / beginning of 2021 - L'Usine Auto - L'Usine Nouvelle

The consequences of the Covid-19 epidemic on the global automotive market could be felt until next year. These are the predictions of Toyota, which estimates that "the global automotive market should gradually recover and return to the same level as last year in late 2020 or the first half of 2021".

For the period from April 1, 2020 to March 31, 2021, the Japanese group expects its revenue to contract by 19.8% to 24 trillion yen (206 billion euros). Its operating profit is expected to fall 79.5% to 500 billion yen (4.3 billion euros). "The impact of the Covid-19 is very broad, significant and serious. The weakness of the automobile market should continue for the moment," insists the manufacturer of the Prius and Yaris.

In 2019, Toyota reported a slight drop in sales, to 10.5 million cars, for revenue down 1% to 29.93 trillion yen (257 billion euros). But it saw net profit grow sharply, to 2,076 billion yen (17.9 billion euros), compared to 1,883 billion yen last year (just over 16 billion euros).

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