Toyota Motor Corp reported a staggering net profit of 4.13 billion dollars earned in the April-June quarter, which is an increase of 32.3 per cent.

The skyrocketing profit is mostly owed to sales in the North American and European markets, along with a weakness of the yen.

Toyota is competing with General Motors Corp for the top spot in the world at car manufacturing and this latest developments of the Japanese currency clearly favored the Japan-based company. The yen depreciated with 8 per cent against the dollar and 14 per cent against the euro in the mentioned quarter, signs of improvement appearing in the past weeks.

Toyota sold 2,162,000 units only by late June, an increase of 3.4 per cent in sales across the globe compared to the same period in 2006. Costumers set their eyes on hybrid and small cars, that have a low-fuel consumption record in a time when oil prices are soaring monthly.

In North America sales reached 762,599 vehicles, while in Europe rose to 332,521. But the situation on the domestic market isn’t so bright, sales taking a backfall of about 43,000 units during the same period.

Even if the net profit is reaching unprecedented levels, the company’s management kept its feet on the ground and estimated that profit will rise with up to 0.4 per cent by the end of 2007, while sales are forecasted to grow 4.4 per cent.