Sales of Toyota forklifts grew significantly in the nine months ended 31 December 2013.

Toyota Industries Corp (TICO) has experienced a 30% jump for its consolidated net sales for the last three quarters.

During the nine months from 1 April to 31 December 2013, TICO's consolidated net sales increased by JPY310.1 billion (USD3.024 billion) to JPY1,480.6 billion (USD14.1 billion).

Net sales for the materials handling equipment segment totaled JPY593.0 billion (USD5.784 billion), an increase of JPY161.9 billion (USD1.579 billion) or 38%. The company attributes this growth mainly to an increase in sales of forklifts worldwide and the inclusion of Cascade Corporation as a subsidiary in March 2013.

Net sales for the logistics segment amounted to JPY70.7 billion (USD689 million), an increase of JPY1.5 billion (USD14.6 million), or 2%. This is due to sales growth in commissioned logistics and cargo transport of automotive-related parts.

TICO's automobile segment posted net sales of JPY746.5 billion (USD7.281 billion), an increase of JPY155.8 billion (USD1.519 billion), or 26%, from the same period of the previous fiscal year.

Despite an increase in labour costs, research and development expenses, an increase in depreciation and exchange rate fluctuations, Toyota Industries recorded an increase in sales while cutting costs throughout the group.

TICO posted consolidated operating income of JPY78.0 billion (USD760 million), an increase of JPY26.9 billion (USD288.7 million), or 52%, from the same period of the previous fiscal year

Meanwhile, Hyundai Heavy Industries Europe (HHIE) has announced its forklift sales grew 20% in 2013 compared to 2012. The company said in a statement: "This is a great result in a diversified, price-competitive and saturated European market."

In 2014, HHIE aims to further increase marketshare in its key European markets of France and the UK, as well as other European countries. It also has plans to optimise the Hyundai dealer network.