The Japanese carmaker is likely to sell 9.7 million vehicles this year--a record for annual auto sales.
After suffering through recalls, fines, and a natural disaster, Toyota Motor Corp. is seeing surging sales and is on track to regaining its spot as the world’s largest automaker.
According to the Los Angeles Times, earnings for the carmaker tripled in the latest quarter to $3.2 billion. Toyota is likely to sell a record 9.7 million vehicles this year, more than a million more than General Motors. More than 1.7 million of the sales are in the United States.
The L.A. Times reports that Toyota makes up 14.4% of the U.S. auto market and is the country’s biggest retail brand, outselling GM’s Chevrolet.
The Japanese automaker is also expanding across the United States, opening a plant in Mississippi and expanding another facility in Texas. Over the past year, the company has put $1.4 billion into U.S. factories and equipment, adding more than 2,700 jobs, according to the L.A. Times.
Toyota exports from the United States are also on track to rise more than 50% this year.
Click here to read the full Los Angeles Times report.