Toyota New Zealand’s annual revenue is the highest it’s ever been, but the company’s profit remains very similar to last year.
Revenue lifted to $1.4 billion from $1.2 billion the previous year, while Toyota’s profit rose to $21.9 million from $21.7 million, its annual report reveals.
Toyota also sold its highest ever number of new and used vehicles, reaching 42,581.
“The New Zealand economy continues to perform strongly on the back of healthy agricultural exports, record immigration, growing tourism and a construction sector buoyed by both post-earthquake rebuilds and high levels of housing demand,” the report says.
“Consequently, the vehicle markets have been strong, setting new records for both new vehicle sales and used vehicle transactions.”
Toyota will be keeping an even closer eye on the current financial year after announcing big changes to its business model in April, dubbed the Drive Happy Project.
Dealerships are now known as stores and fixed pricing has been introduced for new vehicles.
