133.00 -1.83 (-1.36%)
After hours: 7:03PM EDT
|Bid||0.00 x 800|
|Ask||0.00 x 800|
|Day's Range||133.83 - 134.89|
|52 Week Range||103.62 - 140.99|
|PE Ratio (TTM)||9.00|
|Forward Dividend & Yield||3.59 (2.73%)|
|1y Target Est||133.22|
The surprise announcement comes at a time of worsening friction over international trade between the United States and its allies. President Trump asked Commerce Secretary Wilbur Ross to carry out the probe. The U.S. Department of Commerce started an investigation into automobile imports to determine whether they "threaten to impair the national security" of the United States, the agency said in a statement on Wednesday night local time.
The Trump administration is considering the imposition of new tariffs on imported vehicles, The Wall Street Journal reported, citing industry officials briefed on broad outlines of the plan. The administration is currently considering tariffs of up to 25%, according to those briefed on the plan, the report said.
Shares of Toyota Motor Corp. fell 1.3 percent in after-hours trading on a report the Trump administration was eyeing new tariffs on imported autos. A tariff could be up to 25 percent, sources told The Wall Street Journal. Shares of Toyota Motor Corp. 7203.T-JP dropped nearly 2 percent in after-hours trading after a report that the Trump administration was weighing new tariffs on auto imports to the United States.
As the doors creak wider open, every automaker has its sights set on China. The world’s largest car market is ostensibly the future of industry profits. Beijing said this week it will reduce the long-held 25 percent tariff on imported cars to 15 percent and slash levies on auto parts to 6 percent from as high as 25 percent. Benevolent as that may look amid the current protectionist trade rhetoric, it won’t move the needle much beyond allowing the likes of BMW AG and Toyota Motor Corp. to sell a few more high-end models.
Tokyo's taxi industry is undergoing some radical changes as Japan, already dealing with unprecedented levels of tourism, gears up to host two major sporting events in the next 26 months. More than 28 million tourists visited Japan in 2017 and the government has set a goal of 40 million foreign visitors by 2020, loading more and more pressure on Tokyo's already stressed transport system. Toyota, the world's largest car manufacturer, believes it has at least part of the answer to this problem.
In the week ended May 18, Ford Motor Company (F) stock settled at $11.33 with minor gains of 1.3% from the previous week’s close. As of May 18, Ford was trading in positive territory with minor gains of 0.8% month-to-date. By comparison, General Motors (GM), Toyota (TM), and Ferrari (RACE) also have inched up by 2.9%, 3.9%, and 8.0% month-to-date, respectively.
In order to tap the thriving EV market in China, automakers are opting for locally-manufactured, affordable vehicles for buyers.
Toyota has warned it is unlikely to invest in its UK manufacturing plants if the government moves to ban the sale of its hybrid cars. Tony Walker, UK managing director, told MPs on the business committee that the company’s factories in Britain would struggle to win investment in the future. Proposed government rules to ban cars that cannot drive 50 miles or more on electric power by 2040 “would make the vehicles we make in the UK currently unsaleable in the UK,” he said.
China's Finance Ministry has said that it will slash import tariffs on certain vehicles to 15 percent, down from 25 percent. The announcement, which came Tuesday, also said that tariffs on automotive parts including bumpers and seat belts would fall to 6 percent. China's Finance Ministry said that it will cut import tariffs on some vehicles to 15 percent, down from as much as 25 percent.
South Africa is proposing automakers including Toyota Motor Corp., Ford Motor Co. and BMW AG more than double production in return for tax breaks so generous that the companies can ship the cars all the way to Europe. The auto industry accounts for about 7 percent of South Africa’s gross domestic product and has been one of the few highlights of a period of sluggish economic growth, according to the National Association of Automobile Manufacturers of South Africa.
The auto industry is approaching a major tipping point. Electric cars could soon be profitable and cost competitive with traditional cars.
So far in 2018, TM has risen ~8%. The company’s strong fiscal 2018 financial performance could be one of the drivers of this optimism.
In contrast, the sales of the company’s SUV (sports utility vehicles) segment showcased a drop of ~4.6% to 69,940 units in April 2018 from 73,318 units sold in April 2017. Previously in March 2018, Ford reported a 6.7% rise in truck segment sales, which stood at 109,276 units, much higher than in April 2018. Ford’s US sales to retail customers were at 137,049 vehicle units with about a 2.6% increase in April 2018 from the corresponding month of the previous year.
According to the latest data compiled by Thomson Reuters, of the 22 analysts covering Toyota Motor (TM), 45% have given the stock “buy” recommendations, and 50% of analysts have given it “hold” recommendations. The remaining 5% of analysts have given it “sell” recommendations.
The century-long dominance of gasoline-engine cars will sputter in coming decades as incentivized Chinese buyers and more-efficient manufacturers combine to put electric vehicles atop the sales leader board. By 2040, more than half of all new car sales and a third of the planet’s automobile fleet -- equal to 559 million vehicles -- will be electric, according to a global outlook published Monday by Bloomberg New Energy Finance. EVs will achieve upfront cost parity with internal-combustion engines beginning in the mid-2020s, helping trigger a tectonic shift in car sales.
In April 2018, Ford Motor Company’s (F) F-Series US truck sales were at 73,104 units, which reflected sales gains of about 3.5% on a YoY (year-over-year) basis. In March, 87,011 units of F-Series trucks were sold in the US, up 7% YoY. In 2017, the company sold about 0.90 million F-Series units, reflecting 9.3% YoY growth. 2017 was the best year for F-Series US sales since 2005.
On May 16, Toyota Motor’s (TM) forward EV-to-EBITDA (enterprise value to earnings before interest, tax, depreciation, and amortization) multiple was 9.2x, much higher than other mainstream automakers’ (XLY) EV-to-EBITDAs.
Bets on the world’s biggest car companies look a bit less safe as the U.S. market confronts slowing sales, an obsession with trucks and ballooning numbers of used cars. Bonds of captive auto-finance companies like Ford Motor Credit Co., Toyota Motor Credit Corp., General Motors Financial Co. and Daimler AG’s financing subsidiary have been trading more like their parents in recent months. These units, essentially enablers of purchases by millions of consumers, have sold $78 billion of debt so far this year — the most in a decade for that period. Meanwhile, the lowest-quality borrowers in the U.S. are defaulting on subprime loans — which constitute about one-fifth of auto lending since 2007 — at a faster clip than during the financial crisis, Fitch Ratings says. Yet investors seem complacent.
The Tacoma TRD Pro, TRD Sport and TRD Off Road trim levels come with features such as beefier shocks and suspensions, skid plates, an electronic locking differential and a Terrain Select system.
Ford Motor Company (F) sold 204,651 vehicle units in the US market in April 2018, a decrease of about 4.7% from its US sales in April 2017. April was the third month in 2018 that Ford reported YoY (year-over-year) US sales weakness. Previously in March 2018, the company’s US sales went up 3.4% YoY to 244,306 vehicle units. In 2017, Ford’s total US sales went down by about 1.1% YoY, still better than the industry average.
In fiscal 2019, Japanese automaker Toyota Motor’s (TM) financial performance improved on almost every front. The weak Japanese yen, Toyota’s reporting currency, was one of the key factors that added positivity to its financial figures.
TOKYO (AP) — Toyota Motor Corp. chief Akio Toyoda, tapped to head the Japanese auto industry association, promised Friday to lead a push among manufacturers to keep a competitive edge in emerging technologies such as zero-emission and autonomous driving.
So far in this series, we’ve covered how Toyota Motor’s (TM) revenues rose and its profit margins expanded in fiscal 2018. The positive trend in the company’s financials was mainly the result of favorable currency movements, cost-reduction efforts, and stable sales volume.
May.22 -- Bloomberg's Tom Mackenzie discusses China’s decision to reduce tariffs on imported cars to 15 percent from 25 percent. He speaks on "Bloomberg Daybreak: Australia."