Yahoo Finance Toyota's (TM) Vehicle Production Increases 4.4% in 2016
Toyota Motor Corporation’s TM production in North America increased 4.4% year over year to a record 2,124,608 vehicles in 2016. The Japanese automaker had manufactured 2,035,028 vehicles in 2015.
The rise in production was mainly driven by lower fuel prices, economic stability along with higher customer demand for trucks and SUVs. Toyota produces 13 models in North America including the models Avalon, Camry, Corolla, Highlander, RAV4, Sequoia, Sienna, Tacoma, Tundra, Lexus RX 350, Lexus ES 350, Yaris and Yaris iA. Notably, the automaker directly employs 44,000 people.
Since 1986, Toyota’s total vehicle production has crossed more than 30 million vehicles. The company is focused on offering its customers better quality vehicles which ensures safety and fulfills consumer expectation.
In 2016, the company’s Cambridge, Ontario facility and the Georgetown, KY plant celebrated 30 years of operations. The Princeton, IN facility and the Buffalo, WV facility completed 20 years of business. The Huntsville, Alabama facility is also operating for 15 long years.
Toyota also inaugurated the fifteenth manufacturing facility in Apaseo el Grande, Guanajuato in Nov 2016. This plant is expected to start manufacturing Corolla starting 2019.
TOYOTA MOTOR CP Price
TOYOTA MOTOR CP Price | TOYOTA MOTOR CP Quote
Price Performance
Toyota underperformed the Zacks categorized Auto-Manufacturers-Foreign industry over a year. Share price of the company increased 7.4% over the past one year while the industry saw an 11.5% increase. This was largely due to the slashed guidance for earnings, operating income and revenues for fiscal 2017. Settlement of a U.S. truck lawsuit, string of product recalls and declining sales outside Japan also hurt the share price.
Zacks Rank & Key Picks
Toyota currently carries a Zacks Rank #3 (Hold).
Better-ranked companies in the auto space include Oshkosh Corporation OSK, Fox Factory Holding Corp FOXF and GKN plc GKNLY.
Fox Factory sports a Zacks Rank #1 (Strong Buy). The company has an expected earnings growth rate of around 16.6% for the current year. You can see the complete list of today’s Zacks #1 Rank stocks here.
Meanwhile, Oshkosh Corporation and GKN carry a Zacks Rank #2 (Buy). Oshkosh Corporation has an expected long-term growth rate of 8.4% while the same for GKN is pegged at 6.3%.
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TOYOTA MOTOR CP (TM): Free Stock Analysis Report
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