Toyota\u2019s Half-Year Profit Jumped 26% to $14.1 Billion \u2014 and It Still Expects to Sell 9.7 Million Cars

Toyota Motor Corporation announced its financial results for the second quarter, ended September 30, 2026, on November 5. Consolidated vehicle sales totalled approximately 4,758,000 units for the April-to-September half, a decrease of about 25,000 units compared with the same period last fiscal year \u2014 yet the company made considerably more money on them.

Net revenues rose 9.5% to 26.962 trillion yen ($169.6 billion). Operating income increased from 2.0056 trillion yen to 2.1911 trillion yen ($13.8 billion), income before income taxes reached 2.954 trillion yen ($18.6 billion), and net income jumped from 1.773 trillion yen ($12.1 billion) to 2.236 trillion yen ($14.1 billion).

The gap between flat volumes and sharply higher profits points to the same forces lifting Toyota all year: a richer mix of hybrids and higher-priced models, and pricing power that has held while rivals discount. Toyota\u2019s electrified vehicle sales rose 18% for the year, and the company has now made the Camry and RAV4 hybrid-only \u2014 a bet that the hybrid, not the pure EV, is where the money is in 2026.

For the fiscal year ending March 31, 2027, Toyota estimates consolidated vehicle sales of 9.70 million units. The company also raised its profit forecast earlier in the week, sending its shares up 16% \u2014 the biggest gain since 1987 \u2014 a reminder that in this market, selling slightly fewer cars at much better margins can be the winning trade.