8 Aug 2008

Profit drop lower than forecast

7:48 am on 8 August 2008

Toyota has seen quarterly profits drop 28%, which is less than forecast, but it remains cautious.

The Japanese carmaker said the trading environment had taken a sharp turn for the worse, creating a "very tough" quarter, with net profit down to $US3.2 billion.

While US sales have slowed in the United States, Toyota has seen sales in countries such as Russia and China rise.