Toyota on Tuesday raised its full-year outlook, as it posted a 23% jump in net profit for the most recent quarter, buoyed by a favorable shift in foreign exchange rates and strong sales of its sedans and SUVs in North America.
Demand for palladium, last quarter’s best-performing precious metal, is exceeding supply for a second consecutive year as mine production stagnates while sales by automakers, the biggest buyers, reach record highs.
U.S. light-vehicle sales probably rose in December to wrap up a three-year run unrivaled in almost four decades as consumers replaced cars and trucks that are, on average, the oldest ever on the nation’s roads.
Ford Motor Co. and Nissan Motor Co. reported November U.S. light-vehicle sales gains that exceeded estimates as the industry benefited from buyers returning to showrooms after Hurricane Sandy a month earlier.
General Motors Co. said Europe’s car industry will remain unprofitable at current vehicle pricing levels, while Volkswagen AG said some competitors are at risk of going out of business without state aid.