Toyota’s net profit jumps by 94% in Q2

Japan’s biggest automaker Toyota announced its net profit during the three months to June surged 94 percent year-on-year to 1.31 trillion yen ($9.1 billion) on sales of 10.55 trillion yen, up 24.2 percent from a year ago.

For the quarter, electric vehicles accounted for 34 percent of its global vehicle sales, but most of them were hybrids. For pure battery-powered cars, Toyota sold 29,000 vehicles compared with 4,000 vehicles a year earlier.

Global auto giants, including Japanese carmakers, have faced a crisis in China as they struggle to keep pace with the rapid shift away from the internal combustion engine and the rise of local electric vehicles groups.