Toyota Australia Posts $332 Million After-Tax Profit
Toyota Motor Corporation Australia Limited (TMCA) has announced an after-tax profit of $332 million for the financial year ended 31 March 2021 (FY20: after-tax profit of $129 million).
Comprising Toyota Australia and Lexus Australia operations, TMCA sold a total of 220,403 vehicles locally during FY21. This was an increase of 2.2 per cent compared with FY2020 and contrasted the overall industry decline of 7.8 per cent.
The profit result reflected the strong recovery of new vehicle sales through the second half of the financial year and the sale of the TMCA property at Caringbah and the Sydney City Toyota dealership in NSW. After adjusting for one-off prior year tax adjustments and the impact of property sales, the increase in underlying after-tax profit is $80 million compared to the year prior.
TMCA President and CEO Matthew Callachor said this year's result reflected the dedication of the entire TMCA team, the Toyota and Lexus dealer networks, and its suppliers, in what was a very challenging year.
"Toyota is committed to being there for all Australians, particularly during difficult times such as last year. We greatly appreciate the loyalty of our customers who supported us and our employees, as we worked through the challenges of COVID-19."
In 2020, Toyota was the best-selling brand for the 18th consecutive year, HiLux was the top-selling vehicle for the 5th year running, Corolla was Australia's most popular passenger car for the eighth year straight, and RAV4 was the country's best-selling SUV.
Lexus sales were 9160 for the year with the luxury brand selling its 30,000th hybrid model since the first RX 400h was launched in 2006.
Other Toyota milestones throughout FY20 include:
- New-model launches of Yaris hatch, Yaris Cross, GR Yaris, and facelifted HiLux and Fortuner;
- Hybrid models exceeding 27 per cent of Toyota's sales by year's end;
- Returned $18 million in JobKeeper payments to the federal government
- Commissioning of the $7.4m Toyota Hydrogen Centre and Victoria's first hydrogen production, storage and refuelling facility at the Centre of Excellence;
- Helped grassroots football and cricket clubs raise nearly $1.7 million in the Good for Cricket and Good for Footy raffles;
- Produced face shields for, and delivered more than 72,000 meals to, frontline COVID-19 workers
- Committed to support grassroots motorsport, extending the TGRA 86 Series until the end of 2022
- Awarded $40,000 in scholarships for high school students in Sutherland Shire taking the total support for Shire education programs to $1.8 million over the past four years.