Toyota stock prices gained 80% to the highest level in its history
Toyota stock prices، the largest car company in the world in terms of sales، shares jumped by about 5% at the close of trading today، Wednesday، on the Tokyo Stock Exchange، to record the highest level in its history، after rising by nearly 80% since the beginning of last year until now، after announcing expected profits of about 4.9 trillion yen ($33 billion) from the beginning of last March until the end of this month، outperforming the broader Topix index of Japanese companies، which gained about 34% during the same period.
Toyota to invest $1.3 billion in U.S. market to produce green cars
Toyota stock prices، the Japanese Toyota Motor، the largest car company in the world in terms of sales، announced it would invest an extra $1.3 billion in its Kentucky plant in the United States for electrification efforts، including assembly of a three-row battery electric sports utility vehicle for the U.S. market after its strong financial performance in the third quarter which was helped by robust demand for gasoline-electric hybrid vehicles.
Toyota Motor operating profits increased by more than 76%
Japanese Toyota Motor، the largest car company in the world in terms of sales، achieved the strong financial performance during the third quarter ending November 30 of its current fiscal year، with its operating profits increasing by more than 76% and hikes full year profit forecast by about 9% to 4.9 trillion yen، while a weaker yen currency، which has tumbled around 10% against the dollar since end-2022، bolstered the impact of Toyota's robust global sales.
Japanese Toyota Motor، the largest car company in the world in terms of sales، confirmed that its total operating profits for the three months ending December 31 amounted to about 1.68 trillion yen، an increase of 75.7% from a year ago، exceeding the average profit estimate of 1.3 trillion yen in a survey conducted by the London Stock Exchange Group of nine analysts، thanks to hybrid cars، which accounted for more than 67% of total sales or about 10 million cars from the luxury Toyota and Lexus brands during the past year.
Japanese Toyota Motor، the largest car company in the world in terms of sales، stock prices rose to a historic level after the strong financial performance it achieved during the third quarter ending November 30 of its current fiscal year، with its operating profits increasing by more than 76%، outperforming its competing companies and competition from local EV makers such as Honda and Nissan، whose share prices rose by about 69%. % and 47%، respectively.
Toyota Motor is the first Japanese company whose market value exceeds 50 trillion yen
Reuters reported that the share prices of the Japanese Toyota Motor Company reached a record level over the past year and so far، with its market value exceeding 51 billion yen with the closing of the Tokyo Stock Exchange today، making it the first Japanese company to exceed 50 trillion yen، and after its market value reached approximately 49 billion yen on January 23 of this year، it marks the highest level ever among Japanese companies and surpasses the previous record set by Nippon Telegraph & Telephone Corp. in 1987، during the Japanese asset price bubble.
Yesterday، Tuesday، Japanese automobile company Toyota Motor Company's share prices rose by 5% to reach more than 3،135 yen per share، the biggest one day gain in nearly eight months، attracting investors to buy after reviewing the group's profit expectations for the fiscal year ending in March and announcing that operating profits are expected to increase by more than 9% during its fiscal year.
Toyota Motor Company invests in Kentucky to assemble 3 models of green cars
Japanese Toyota Motor Company's share prices also reached a record high because، after achieving strong financial performance in its profits، it announced an investment of $1.3 billion in its factory in the US state of Kentucky to manufacture and assemble 3 models of green multi-purpose sports cars that operate on electric batteries.
Toyota Motor Company's share prices have achieved huge gains over the past months، with the value of the yen falling by about 10% against the dollar، increasing its export profits، especially with the increase in its car sales by 28%، recording the strongest growth rate in North America، the largest market for its cars in the world، especially for its gasoline-powered hybrid models.
Toyota Motor Company stock prices continue to rise this year
It is expected that Toyota Motor Company's share prices will continue to rise this year، as Toyota، which lags behind its global competitors in the sector of green cars powered by electric batteries، will outperform them this year، thanks to the strong demand for hybrid cars، which recorded the highest sales in more than a quarter of a century، with the Prius model uptill now.
Japanese Toyota Motor، the largest car company in the world in terms of sales، revealed that its shares hit a record high on Wednesday after its earnings upgrade the prior day، with rivals Honda and Nissan also posting gains on expectations their solid hybrid lineups may benefit from cooling interest in electric cars.
Hybrid cars are a strength of Toyota Motor
Analysts at Goldman Sachs bank sees that the market is now rethinking the potential of hybrid products، which are a strength of Toyota which raised its operating profit guidance by nearly 9% for the 12 months ending March 31 with its progress on raising prices that helped boost its earnings per vehicle was likely the biggest driver for the higher operating profit forecast.
The improved outlook from Japanese Toyota Motor، the world's best-selling automaker contrasts with a downbeat forecast from many rivals that have warned of tepid sales growth and announced output cuts amid high interest rates and slowing demand for electric cars.
Japanese Toyota Motor is likely to benefit from relatively higher margins on hybrids and the fact that some models tend to be costlier، and selling prices are going up in the absence of discount، as Yoichi Miyazaki، Toyota CFO، said earlier، that efforts to adjust production to better respond to demand for popular models had helped the automaker sell vehicles without resorting to the usual discounts and incentives.