142.00 +0.44 (0.31%)
After hours: 7:29PM EST
|Bid||141.38 x 3100|
|Ask||143.50 x 1100|
|Day's Range||141.22 - 142.23|
|52 Week Range||116.40 - 145.41|
|Beta (5Y Monthly)||0.90|
|PE Ratio (TTM)||8.65|
|Forward Dividend & Yield||3.59 (2.52%)|
|Ex-Dividend Date||Sep 25, 2019|
|1y Target Est||163.50|
Oscar Williams-Grut joins the On The Move panel from London to discuss Volkswagen’s push into electric vehicles and its new partnership with Chinese battery maker Guoxuan.
Morgan Stanley downgraded the auto-maker's stock to “underweight”, citing sustainability concerns. Yahoo Finance’s Emily McCormick joins Seana Smith on The Ticker to discuss.
Subaru held a technology briefing this week in Tokyo where it announced ambitious sustainability goals, but nearly lost amid the discussion of converting its fleet over to electricity was the unveiling of what appears to be an early concept version of a forthcoming battery-electric crossover. It appears to be Subaru’s version of the crossover EV it is jointly developing with Toyota, to be built atop a flexible platform that can accommodate multiple production vehicles from both brands. What we’re shown is an athletic-looking crossover with its wheels pushed to the corners that borrows design elements, for better or for worse, from Cadillac, the Pontiac Aztek and the Tesla Cybertruck.
Toyota said on Tuesday it will recall 3.4 million vehicles worldwide because of an electronic defect that can result in air bags not deploying in crashes. The vehicles may have an electronic control unit that does not have adequate protection against electrical noise that can occur in crashes, which could lead to incomplete or non-deployment of the air bags. In April, the U.S. National Highway Traffic Safety Administration (NHTSA) expanded a probe into 12.3 million potentially defective air bags covering a number of automakers, including the vehicles Toyota is recalling.
Toyota Motor Corp's labour union plans to seek an average pay rise of 10,100 yen ($91.98) per month in wage negotiations this year, public broadcaster NHK reported on Thursday, 600 yen less than the increase granted last year. Toyota last year offered a pay raise of 10,700 yen on average, which was down 1,000 yen from the previous year. Annual wage talks in March between management and unions - announced by major companies in sectors such as cars and electronics - set the tone for full-time employees' wages across the nation, which have implications for consumer spending and inflation.
Tesla shares jumped to $586.35 Wednesday afternoon, giving the auto maker a market value of about $106 billion and leaving previous No. 2 Volkswagen in the dust.
The recall covers certain 2011-2019 Corollas, the 2011 to 2013 Matrix, the 2012 through 2018 Avalon and the 2013 to 2018 Avalon Hybrid.
Toyota Motor Corp said on Wednesday it is recalling 361,000 older vehicles worldwide for potentially defective air bag inflators. The defect involves a different type of Takata inflator than those that have prompted the largest-ever auto safety recalls worldwide covering more than 42 million U.S. vehicles by 19 automakers with Takata air bag inflators. Honda Motor Co said on Tuesday it will recall 2.7 million older U.S. vehicles in North America for the same type of Takata inflator that Toyota is also recalling.
Toyota Motor Corp. and Honda Motor Co. announced separate recalls Tuesday affecting millions of vehicles. Both recalls were related to the vehicles' airbag systems. Toyota (NYSE: TM) said its recall was related to a electronic control unit (ECU) that might not deploy in the event of a crash.
Toyota will recall 3.4 million vehicles worldwide because of an electronic defect that can result in air bags not deploying in crashes.
Two different air bag glitches have forced Toyota and Honda to recall over 6 million vehicles worldwide, and both problems present different dangers to motorists.
Toyota Motor Corp said on Tuesday it will recall 3.4 million vehicles worldwide because of an electronic defect that can result in air bags not deploying in crashes. The recall, which includes 2.9 million U.S. vehicles, covers 2011-2019 Corolla, 2011-2013 Matrix, 2012-2018 Avalon and 2013-2018 Avalon Hybrid vehicles and is tied to a report of one fatal crash. The vehicles may have an electronic control unit that does not have adequate protection against electrical noise that can occur in crashes, which could lead to incomplete or non-deployment of the air bags.
Toyota's recent decision to realign its North American production was fueled by multiple factors, including the realization that Tacoma pickup truck production alongside the larger Tundra in San Antonio was unsustainable, Toyota Motor Manufacturing Texas Inc. President Kevin Voelkel said. Toyota (NYSE: TM) decided to move some of its Tacoma production to San Antonio roughly a decade ago after closing a plant in California that had manufactured the truck. In 2016, the San Antonio facility produced the second-highest volume of vehicles in the world on a single line among all automakers, Voelkel said.
(Bloomberg) -- Tesla Inc.’s stock is soaring, and traditional auto manufacturers are staging glitzy presentations of new plug-in models. You’d think the electric-vehicle age was finally dawning.But so far, Tesla is the only car company looking likely to benefit in the coming years. Look at every other corner of the U.S. auto industry -- the world’s most valuable automaker, dealers, consumer surveys and market forecasts -- and a more ominous picture emerges.A top American executive for Toyota Motor Corp., whose market value is still more than double Tesla’s even after Elon Musk’s epic run, recently warned of electric-car catastrophe. Auto retailers caution growth will be slow, citing still-high battery costs and range constraints. And far more U.S. shoppers are willing to kick the tires on a hybrid than cars that only plug in.The cause for concern remains as EVs start to appear in showrooms in greater numbers. The models on the market will swell almost sevenfold to 121 models in the next half decade, from 18 now, according to LMC Automotive. But the researcher sees all those vehicles claiming just 5.5% of U.S. sales in 2025.“We’re going to see electrified Armageddon,” Bob Carter, Toyota’s executive vice president of North American sales, told reporters in December. “Supply is going to get ahead of true customer demand.”There is irony, of course, in Carter predicting an EV reckoning just as Tesla was wrapping up a record year. The dim view he holds is not unique among legacy automakers, which have spent more than a century building and selling cars that burn fossil fuel. But that cautious mindset is rooted in pragmatism -- profits remain elusive in the high-cost, high-price EV business.That’s why Toyota and other automakers have been reluctant to dive head-first into EVs until they’re closer to reaching price parity with internal combustion engine vehicles, which BloombergNEF predicts will happen around 2024.Tesla is being rewarded for not waiting: Its shares surged another 6% on Tuesday to $540.94, a new intraday record. The stock has doubled since Tesla reported a surprise third-quarter profit in October, bringing the company closer to a $100 billion market value.EV sales are expected to grow to be roughly the size of the shrinking mid-size car segment by mid-decade, to about 934,000 units, LMC says. But whereas the meager family sedan market will be split between just 13 models, the researcher expects there to be more than nine times as many EVs fighting for air.Thanks to its hot-selling Model 3 sedan, Tesla accounted for nearly eight-in-10 EV sales in America last year. By 2025, LMC sees Tesla offering seven models that will account for a quarter of segment sales. That would leave the 114 competing offerings from other automakers averaging annual sales of 6,145 per model, or about 118 units a week.“It’s tough to make a business out of that volume per EV,” said Jeff Schuster, senior vice president of forecasting at LMC. “Electric vehicles are the future. What’s in question is when that future will arrive and when it pays off? It’s a long road and there definitely could be some carnage along the way.”Automakers, fearing they’ll be left behind if they don’t accelerate their shift from the internal combustion engine, are going to great lengths to build buzz for new electric models.Ford Motor Co. staged a star-studded unveiling of its Mustang Mach-E in an airplane hangar a short stroll from SpaceX, Musk’s rocket company. Porsche debuted its Taycan using Niagara Falls, a Chinese wind farm and a German solar site as backdrops.But with the notable exception of the Model 3, consumers have not been charged up by the highly touted electric offerings already on the market.Sales of the Chevrolet Bolt sagged almost 9% last year and the Nissan Leaf slumped 16%, with neither cresting 17,000 units. Last month, Mercedes-Benz put off the U.S. debut of its first EV by a year after Jaguar and Audi struggled to sell their first electric offerings.So far, only Tesla and its billionaire chief executive officer have come up with an alluring amalgam of status and sex appeal.“Tesla has created the market by having a mystique,” said Art St. Cyr, the head of American auto operations for Honda Motor Co., pointing to Musk’s Model 3. “If Honda, Toyota, GM or Ford made that vehicle, we probably wouldn’t sell them in those numbers.”Honda, Ford and Toyota, which all have a history of selling hybrids, see them prevailing for the time being because mainstream buyers continue to suffer “range anxiety” -- the fear of being stranded by running out of juice in an EV.“People are not generally willing to pay more to be inconvenienced,” St. Cyr said.General Motors Co. is jumping more aggressively into EVs, with plans to field 20 models worldwide by 2023 and sell 1 million by 2026. It’s joining forces with South Korea’s LG Chem Ltd. to build a $2.3 billion battery factory in Lordstown, Ohio, where the car manufacturer stopped building gasoline-fueled Chevrolet Cruze compacts last year.“Customers aren’t interested in hybrids,” Mary Barra, GM’s CEO, said during an industry conference in November.But a study released by Deloitte this month found 27% of U.S. consumers are actively considering a hybrid, while just 8% are looking at pure electrics. Some 59% of Americans still want gasoline-powered cars, the highest of any country Deloitte surveyed globally.Government mandates have made China the world’s top market for EVs, and European regulators also are stimulating demand with incentives to help reach more stringent goals for reduced emissions.But in the U.S., where President Donald Trump has sought to ease car-pollution rules and fuel is cheap, consumers are in no hurry to ditch the gas pump. The Deloitte study found consumers in the U.S. are most concerned about a lack of charging stations.“The automotive ecosystem still has some work to do in terms of making EVs as easy and convenient as internal-combustion engines,” said Craig Giffi, Deloitte’s vice chairman.The onslaught of new EVs coming could actually help solve the problem. Until now, most EVs other than Tesla’s have been boring “compliance cars” aimed at meeting tougher regulations, said Greg Brannon, director of automotive engineering at AAA, which just conducted a survey that found 96% of EV owners would buy another because the experience was better than expected.“Most people are looking for a crossover utility vehicle these days,” Brannon said. “Now, we’re seeing some of those coming, and that’s what it’s going to take. It has to be something people want to drive and can get excited about.”The pickup segment, home to the three best-selling models in the U.S., is about to get jolt, too. Musk caused a sensation with the unveiling of the Cybertruck in November. Ford has an electric truck under development recently filmed towing 1 million pounds of loaded rail cars. And Amazon.com Inc.-backed Rivian Automotive Inc. plans to roll out its R1T starting late this year.But for all the hype about the chips automakers are pushing forward on the table, it’s unclear when or if their gamble will pay off.“Somebody’s got to buy these things,” said Toyota’s Carter. “There is a market. The question is: How big and when will it mature?”(Updates with Tesla shares in eighth paragraph.)\--With assistance from David Welch, Gabrielle Coppola, Chester Dawson and Melinda Grenier.To contact the reporter on this story: Keith Naughton in Southfield, Michigan at firstname.lastname@example.orgTo contact the editors responsible for this story: Craig Trudell at email@example.com, ;Dimitra Kessenides at firstname.lastname@example.org, Keith NaughtonFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Nipping infinite rumors in the bud, Subaru confirmed the Outback, the Forester, the BRZ, the WRX STI, and every other car it makes will go utilize some form of electrified powertain or disappear by the middle of the 2030s. The announcement comes in the wake of ever-stricter emissions regulations around the globe, notably in China and in the European Union. Toyota owns an 8.7% stake in Subaru, and the two partners are jointly developing a pair of electric cars due out during the 2020s.
This week: Toyota begins production at its new Tacoma plant in Mexico; fatal shooting reported at family-owned trucking company in San Antonio; new superintendent appointed for international commercial bridges; and CBP seizes $1.5 million in cocaine inside shipment of fruit. Toyota Motor Corp. (NYSE: TM) officials said production is underway at its new manufacturing plant in Apaseo el Grande, Guanajuato, for its flagship pickup truck, the Tacoma.
Toyota Motor Co. is doubling down on its investment in the Hoosier State. The Japanese automaker said today it plans to add 150 new jobs and sink an additional $700 million into its Toyota Motor Manufacturing Indiana facility in Princeton, roughly 30 miles north of Evansville. In a release, the office of Indiana Gov. Eric Holcomb told us the investment will "support retooling, new equipment installation and advanced manufacturing technologies to further modernize the facility and meet consumer demand for the all-new 2020 Toyota Highlander." "Hoosier manufacturers are driving our economy forward, building the products that power our world every day," Holcomb said in the release.
Toyota Motor Corp <7203.T> said on Friday it will move production of its mid-size Tacoma pick-up truck from the United States to Mexico as it adjusts production around North America. The largest Japanese automaker also said it will end production of the Toyota Sequoia in Indiana by 2022 as that facility focuses on mid-size SUVs and minivans. Toyota will shift production of the Sequoia in 2022 to Texas and that plant will end production of the Tacoma by late 2021.
Toyota's San Antonio plant will continue to assemble the Tundra truck in Texas, but by late 2021 production of the Tacoma will cease.
Including the $1.3 billion investment at the Toyota Motor Manufacturing Indiana (TMMI) plant, the company has so far spent about $7.1 billion of the total amount, Toyota said. The refurbished TMMI plant, which has added 550 new jobs so far, will help Toyota meet strong demand for the Highlander, its new mid-size SUV.
Furthering Toyota's commitment to better serve customers and build vehicles where they are sold, Toyota Indiana (TMMI) invested an additional $700 million and added 150 new jobs to complete the transformation of its plant modernization project, announced in January 2017.