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Toyota Motor Corp. on Wednesday said surging sales and higher margins had seen it almost double its profits in its fiscal fourth quarter, but warned its profits will slump over the coming year as it deals with fallout from the scandal surrounding its Asia-focused car brand Daihatsu.
The Japanese car company is investing in all-battery vehicles and artificial intelligence software.
BMW saw a fall in the first quarter after rising manufacturing costs weighed on profitability and Toyota gave a weak profit outlook as recent scandals forced it to trim production. Bloomberg's Craig Trudell reports.
Toyota Motor on Wednesday posted a roughly 78% rise in fourth-quarter operating profit at 1.11 trillion yen ($7.2 billion) boosted by a weak yen and solid sales.
It's tough to advocate for buying battery stocks at this point. With the slowdown in demand for EVs, we've seen battery stocks sell-off over the past year or so.
Toyota Motor is expected to get a big lift from demand for hybrids when it reports annual earnings on Wednesday, illustrating how the world's top-selling automaker is poised to benefit as hype around battery electric vehicles cools.
Investors often turn to recommendations made by Wall Street analysts before making a Buy, Sell, or Hold decision about a stock. While media reports about rating changes by these brokerage-firm employed (or sell-side) analysts often affect a stock's price, do they really matter?
The Zacks Consensus Estimate for Toyota's (TM) fiscal fourth-quarter earnings and revenues is pegged at $2.91 per share and $67.21 billion, respectively.
Good news – you don't have to dump your Tesla (NASDAQ: TSLA ) stock and other electric vehicle stocks to be prepared for what's coming. Electric cars are crucial, but hybrid electric vehicles are also gaining traction.
Toyota Motor Corp said on Thursday it would invest $1.4 billion in its Princeton facility in Indiana to prepare for assembly of a three-row battery electric SUV.