Toyota Motor posts nearly 28% drop in third-quarter operating profit, missing estimates

Japanese automaker Toyota Motor reported a second consecutive decline in quarterly profit, with a 28% drop in operating profit compared to the previous year, despite a rise in net income. The company’s consolidated vehicle sales also decreased, but it maintained its full-year dividend forecast and saw a slight increase in share value. Toyota’s focus on hybrids over fully electric vehicles has impacted its performance, although plans to build a new EV factory in China signal a shift in strategy.

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