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Toyota's (TM) Vehicle Production Increases 4.4% in 2016
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Toyota Motor Corporation’s (TM - Free Report) 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 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 - Free Report) , Fox Factory Holding Corp (FOXF - Free Report) and GKN plc .
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's (TM) Vehicle Production Increases 4.4% in 2016
Toyota Motor Corporation’s (TM - Free Report) 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 - Free Report) , Fox Factory Holding Corp (FOXF - Free Report) and GKN plc .
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%.
The Best Place to Start Your Stock Search
Today, you are invited to download the full list of 220 Zacks Rank #1 ""Strong Buy"" stocks – absolutely free of charge. Since 1988, Zacks Rank #1 stocks have nearly tripled the market, with average gains of +26% per year. Plus, you can access the list of portfolio-killing Zacks Rank #5 ""Strong Sells"" and other private research. See these stocks free >>