 Toyota's dual-fuel Prius hybrid is proving popular |
Profits at Japanese carmaker Toyota are rising despite pressure from a rising yen and more expensive raw materials. The firm reported a net profit in the three months to December of 296.5bn yen ($2.85bn; �1.51bn), up 3.5% from 2003.
Toyota, the world's number two carmaker by sales, said revenue rose 5.9% with gains in market share worldwide.
Its fortunes contrast with those of US giants Ford and GM, whose profits are now dependent on their financing arms rather than the car sales themselves.
The difference between the three is starkest in their home markets.
Toyota now has 44% of car sales in Japan - as well as clocking up a 10% sales rise in the US and Europe during 2004.
But both Ford and GM saw sales at home flag despite efforts to pile on incentives. Ford is now offering a free Dell desktop computer with its new-model Focus, while GM has upped discounts by $1,000 on a flagship minivan model.
One-Minute World News 
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