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According to Arabia Net, the company's operating profit decreased by 98% to 13.9 billion yen for the three months ending in June, which is better than expected estimates for a loss of 179 billion Yen is drawn from a Reuters poll of seven analysts.
The sharply lower profits underscore the challenges the auto industry faces due to the epidemic that has shut down factories and kept customers away from dealerships.
Toyota Motor expected its net profit to decline in the current fiscal year by 64.1% from last year to 730 billion yen (6.9 billion dollars) due to the repercussions of the Coronavirus pandemic.
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