Toyota profits up amid solid recovery from pandemic fallout

TOKYO (AP) — Toyota has reported a 50% jump in its October to December profit, underlining a solid recovery at the Japanese automaker from the damage of the coronavirus pandemic. Toyota Motor Corp. said Wednesday that its fiscal third quarter profit totaled $8 billion. Although business operations are still suffering because of the pandemic, cost cuts and other efforts including online marketing campaigns helped boost its bottom line. Toyota expects to sell 7.6 million vehicles globally for the fiscal year through March. That’s down from nearly 9 million vehicles the previous fiscal year, but better than the earlier forecast for 7.5 million vehicles.