Toyota Motor Corporation’s (TM - Free Report) total worldwide production surged 14.9% year over year to 829,946 units in Aug 2016. This was backed by a 14.4% rise in production in Japan to 303,507 units and a 15.1% increase in production outside Japan to 526,439 units. The production figure includes passenger cars, trucks and buses manufactured by Toyota as well as its subsidiaries, Hino Motors, Ltd. and Daihatsu Motor Co., Ltd.
Sales in Japan
Total sales in Japan improved 12.6% to 157,105 units, backed by a 15.6% increase in sales of Toyota vehicles, a 4.8% rise in sales of Daihatsu vehicles, and an 8.8% improvement in sales of Hino vehicles. The combined market share of Toyota, Hino and Daihatsu in Japan went up 4.0 percentage points to 46.6%.
Sales of Toyota mini-vehicles in Japan fell 11% year over year to 2,254 units in August. The market share of Toyota in Japan went up 3.7 percentage points to 33.8%, including mini-vehicles, and 4.6 percentage points to 50%, excluding mini-vehicles.
Exports from Japan
Exports from Japan rose 2.1% year over year to 134,461 units owing to a 3.2% rise in Toyota’s exports, partially offset by a 3.1% decline in Hino’s exports.
Toyota currently carries a Zacks Rank #3 (Hold).
Some better-ranked auto stocks include Tata Motors Limited (TTM - Free Report) , The Goodyear Tire & Rubber Company (GT - Free Report) and Douglas Dynamics, Inc. (PLOW - Free Report) .
Tata Motors has a long-term growth rate of 3.6% and sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Goodyear Tire has seen its estimates move north in the last 30 days. The stock sports a Zacks Rank #1.
Douglas Dynamics, also a Zacks Rank #1 stock, has seen its estimates move north in the last 60 days.
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