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Profits at Toyota help car business look better
CommentsToyota Motor Corp. reported a surprise profit Thursday and cut its projected red ink for the year by half, adding to growing evidence that carmakers are starting to recover from the deepest industry downturn in years.
Although far from a full-fledged turnaround, Toyota’s results showed the healing effects of government stimulus measures to spur sales of environmentally friendly cars and other vehicles, as well as soaring demand in emerging markets such as China. Rivals Honda Motor Co. and Nissan Motor Co. have also issued healthier reports and outlooks recently.
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