News Summary: Toyota quarterly profit zooms

PUTTING THE HAMMER DOWN: Distancing itself from the devastating tsunami and massive recalls that knocked it from the pinnacle of the auto industry, Toyota raised its sales target for this year to a record 9.76 million vehicles. It’s a 23 percent hike in its own sales target and would entrench Toyota once again as the king of cars.

GAINING TRACTION: Quarterly sales soared nearly 60 percent to $70.5 billion, signaling a close to a devastating period wracked not only by natural disasters, but perhaps the recall of more than 14 million vehicles over several years, which tarnished the company’s reputation for quality.

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ROAD TRIP: Toyota’S quarterly vehicle sales nearly doubled from the year before to 2.3 million vehicles as sales rose in regions including North America, Europe, Japan and the rest of Asia. The regaining of U.S. market share is crucial for Toyota as that is where it makes the bulk of its profits. Adding to its upbeat prospects is Toyota’s popularity in relatively new markets such as Indonesia, India and China.

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