Toyota Motor Corporation has projected that the looming tariffs will inflict a staggering blow of 1.4 trillion yen this year, translating to nearly €8.1 billion. This alarming forecast was revealed by the company during the announcement of its quarterly results on Thursday, shedding light on the significant financial challenges ahead.
The renowned Japanese automaker is projecting a net profit of about 2.7 trillion yen (roughly 15.7 billion euros) for the ongoing fiscal year, a figure influenced in part by the weight of tariffs. Earlier, Toyota had anticipated a more optimistic profit of 3.1 trillion yen. The company remarked, “The ramifications of US tariffs, along with various other factors, have resulted in diminished operating income, prompting us to revise our forecast downward.”
