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08.05.26 - 22:18
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Toyota And Honda See Sharp Declines In Profit Amidst Iran War Pressures, Spiking EV Costs (ZeroHedge)
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Toyota And Honda See Sharp Declines In Profit Amidst Iran War Pressures, Spiking EV Costs
Toyota expects a sharp decline in profit as rising material and shipping costs tied to the Iran conflict pressure its business, according to Bloomberg.
The automaker projected operating income of ¥3 trillion for the fiscal year ending March 2027, well below both analyst expectations of ¥4.6 trillion and last year's ¥3.8 trillion.
The company said supply chain disruptions are driving up costs for aluminum, resins, and other materials, while logistics issues remain unpredictable. Toyota estimates the regional conflict could reduce earnings by about ¥670 billion.
After the forecast was released, shares dropped as much as 3.5%. Analysts noted Toyota may be giving conservative guidance, but future performance will depend heavily on how long the conflict continues.
Julie Boote, an analyst at London-based research firm Pelham Smithers Associates Ltd told Bloomberg: “Toyota did not only miss consensus e...
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