Toyota Profits Jump 11% in 2Q

The soon-to-be top automaker in the world, Toyota, announced that its 2Q fiscal net profit was up 11% from last year.

Profits for the quarter were $4 billion on quarterly sales of $57 billion.

The profit forecast for the fiscal year, ending in March in Japan, was revised to $14.9 billion, up from $14.5 billion. 

Sales are expected to hit $223.9 billion when buyers scarf up 8.93 million cars for the year, also up from 8.89 million announced earlier.

The first half results for Toyota are a record in sales and profitability.

And, as long as gasoline prices go up, so will the figures in Toyota's bank account.

Toyota's profits are up 70% over the past two years.

When will you buy a Toyota?