Toyota Motor reported a 49% year-on-year drop in operating profit for the fourth quarter ended March, driven by the impact of U.S. tariffs.
The Japanese automaker, the world's largest by sales volume, saw a 1.89% rise in revenue during the period, but profit margins were severely affected by trade-related costs.
Volkswagen, for instance, reported a 14% decline in first-quarter profit, according to a recent report.
The results align with a broader trend in the automotive sector, where European original equipment manufacturers (OEMs) are also grappling with headwinds.
Volkswagen, for instance, reported a 14% decline in first-quarter profit, according to a recent report.
These developments underscore the growing financial strain on automakers due to shifting trade policies and global economic conditions.
Toyota's performance reflects the challenges of navigating a complex regulatory environment, particularly in the U.S. market.