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Toyota's Profits Drop Amid Slow Sales

Toyota Motor Corp. said that its profit fell 23% in the October-December quarter from a year earlier as its sales fell and a stronger yen squeezed its overseas earnings. The company recently relinquished the crown of world’s biggest automaker to German rival Volkswagen. Quarterly sales of the maker of the Prius hybrid, Camry and Lexus luxury cars slipped 3.5%.

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