The Japanese car group Toyota Motor is hit hard in its financial performance by the corona crisis. Profits plummeted in the past quarter and the company predicts the lowest result in years for the current fiscal year.

Net profit in the end of March last quarter fell on an annual basis by more than 86 percent to 63 billion yen, converted 543 million euros. Sales fell by more than 8 percent to 7.1 trillion yen. Due to the corona crisis, far fewer cars are being sold and Toyota factories have been shut down.

For the current broken fiscal year to the end of March, Toyota expects operating profit to fall to its lowest level in nine years. The group expects to sell approximately 8.9 million vehicles, against nearly 10.5 million last year.

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