Toyota Australia posts $249 million profit in FY21-22, down from $332m

Alexi Falson

The turn of a new financial year has seen Toyota post a healthy $249 million profit, however, that’s down $83 million from the previous financial year.

All up, Toyota has maintained its healthy command of the Australian market (including through 2021), with its 22.3 per cent market share accounting for more than one out of every five new vehicles sold. Hybrid-electric vehicle sales accounted for a record-setting 29.3 per cent of sales.

Deliveries of new vehicles up until March 31 increased by 6.2 per cent to 234,091 units in total, in spite of the production delays, logistical nightmares and supply chain shortages facing the industry caused, largely caused by COVID-19.

No surprises here, but the HiLux remains Toyota’s best-selling vehicle and in fact the best-selling vehicle in the country for the sixth year in a row. The Corolla took out the honour of Australia’s most popular passenger car for the ninth year running. The RAV4 retained the accolade for Australia’s best-selling SUV, as well as becoming Australia’s best-selling hybrid vehicle.

Lexus managed to increase sales by 5 per cent to a total of 9290 vehicles during the financial year; 3604 of which, or just under 40 per cent, were in the form of a hybrid-electric model.

Toyota has pointed out that the introduction of the UX 300e and the company’s first-ever plug-in hybrid EV (PHEV), the NX 450+, have each played a key role in Lexus’s hybrid portfolio expansion.

TMCA’s president and CEO, Matthew Callachor, said that while the news is positive, Toyota is not immune from the pain impacting the current production landscape.  In a statement, he said:

“Unprecedented demand for our vehicles, combined with the global automotive industry’s shortage of semiconductors and other components due to COVID supply chain challenges, has, unfortunately, resulted in extended wait times for many vehicles. Toyota apologies sincerely for the inconvenience being experienced by affected customs, and thanks them for their loyalty and patience.”

The numbers include sales of Lexus and Toyota vehicles, as well as Revolution operations and the profits of selling some dealership property in Caringbah, Chatswood and the Sydney City Toyota dealership.

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