Thanks to stronger earnings in Asia despite supply-chain disruptions Toyota Motor Corp.’s (NYSE:TM) second-quarter net profit rose 33% to $5.5 billion and raised its profit outlook by favorable currency rates.The Japanese automaker warned that the global semiconductor shortage still posed risks to its full-year production plans but said that it doesn’t expect the shortage to cause any further revisions.The shortage didn’t begin to hit Toyota until recently when the lack of semiconductors caused the company to lose 40% of its planned production in August and September, and weighed on sales, particularly in September. As a result, Toyota has cut its production target for the year to end-March and last month slashed output plans for November by as many as 150,000 vehicles.The group further cut its vehicle-sales forecast to 10.3 million units from a previous 10.6 million units whilst keeping revenue forecasts.  After a better-than-expected jump in second-quarter profit, the carmaker continues to expect a revenue increase of 10% to Y30.000 trillion and net profit to rise 11% to Y2.490 trillion, compared to its previous view of 2.4% increase.Toyota’s average transaction price rose to 14.2% during September and the average Toyota was selling for $38,593.IN ADDITIONCar demand, and in particular EVs, are seeing healthy growth in key markets such as the United States, China, and Europe, following an earlier pandemic-induced slump.Like many, Toyota is investing heavily in technology and production capacity to build electric vehicles (EVs) and announced plans to have 15 battery EV models on the market by 2025. The company will spend $13.5 billion by 2030 to develop EV batteries and supply systems.To invest in stocks, contact our brokers TODAY.Resources: https://www.investing.com/news/stock-market-news/toyota-secondquarter-quarterly-profit-climbs-2667295 Dow Jones Global News