Toyota is selling a lot of RAV4s in the U.S. But sales have been limited by tight supplies, and that represents a lost profit opportunity as Toyota’s sedan sales lag. Image source: Toyota.
Toyota Motor Corporation (NYSE: TM) said on Nov. 8 that its operating profit fell 43% in the quarter ended Sept. 30, as exchange-rate pressures and headwinds in the important U.S. market resulted in an 8.8% year-over-year drop in revenue.