- Toyota Motor is expected to get a big lift from demand for hybrids when it reports annual earnings on Wednesday, illustrating how the world's top-selling automaker is poised to benefit as hype around battery electric vehicles cools.
In February, the Japanese automaker raised its operating profit forecast for the financial year ended March 31 to 4.9 trillion yen , a result that would mark a record profit and an 80% increase on the previous year. As global demand for battery-powered EVs has slowed, Toyota has cashed in by selling more hybrids, which come with relatively higher margins than regular gasoline cars.
While strong in hybrids, Toyota remains a laggard when it comes to EVs, behind rivals such as Tesla and European and Chinese automakers.