Toyota posts 18.5% drop in profit

Toyota has posted an 18.5% year-on-year fall in its profit to 80.4 billion yen (£640 million) for the quarter to September due to a drop in car production and sales.

A component supply crisis following the March 11 earthquake and tsunami in Japan had forced the car manufacturer to cut production volume at its plants.

The Japanese firm did not reveal its full-year forecast following a supply shortage and production disruptions caused by the Thai flooding.

The key markets of Japan and North America witnessed a drop in car sales. However, a higher number of vehicles were sold in other parts of Asia, according to Toyota.

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