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Toyota (TM) Expects Europe Sales to Increase 5% in 2017
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Toyota Motor Corporation (TM - Free Report) expects sales in Europe to rise 5% to 975,000 vehicles in 2017. The automaker also expects to retain its 5% market share, backed by the popularity of its hybrid vehicles. The outlook faces uncertainties related to upcoming elections, Britain's exit from the European Union and adverse market conditions in Russia and Turkey.
Hybrid vehicle sales in Europe rose 40% last year and constituted around 32% of overall sales in the region. The company is aiming for hybrid vehicles to account for 50% of its total sales by 2020.
Toyota expects industry-wide sales in Europe to increase 1% in 2017. Presently, the company is focused on improving business in its European division.
Toyota is focusing on the development of new fuel cell vehicles (FCVs). The automaker launched FCVs in the U.S. and Europe in mid-2015. Toyota expects to sell 30,000 FCVs annually by 2020. In order to drive demand for FCVs, Toyota is developing hydrogen fuel stations in collaboration with various partners. In Feb 2017, Toyota announced plans to collaborate with Royal Dutch Shell in order to construct seven fueling stations for hydrogen vehicles in California.
Toyota underperformed the Zacks categorized Auto Manufacturers-Foreign industry over the last three months. Share price of the company fell 8.4% while the industry saw a 6% decline. Weak guidance for fiscal 2017, frequent product recalls and large settlement on a U.S truck lawsuit are major concerns for Toyota.
For the current year, Lear Corporation, American Axle and General Motors expect earnings growth of around 8.9%, 8.1% and 9.4%, respectively.
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Toyota (TM) Expects Europe Sales to Increase 5% in 2017
Toyota Motor Corporation (TM - Free Report) expects sales in Europe to rise 5% to 975,000 vehicles in 2017. The automaker also expects to retain its 5% market share, backed by the popularity of its hybrid vehicles. The outlook faces uncertainties related to upcoming elections, Britain's exit from the European Union and adverse market conditions in Russia and Turkey.
Hybrid vehicle sales in Europe rose 40% last year and constituted around 32% of overall sales in the region. The company is aiming for hybrid vehicles to account for 50% of its total sales by 2020.
Toyota expects industry-wide sales in Europe to increase 1% in 2017. Presently, the company is focused on improving business in its European division.
Toyota is focusing on the development of new fuel cell vehicles (FCVs). The automaker launched FCVs in the U.S. and Europe in mid-2015. Toyota expects to sell 30,000 FCVs annually by 2020. In order to drive demand for FCVs, Toyota is developing hydrogen fuel stations in collaboration with various partners. In Feb 2017, Toyota announced plans to collaborate with Royal Dutch Shell in order to construct seven fueling stations for hydrogen vehicles in California.
Toyota Motor Corp Ltd Ord Price
Toyota Motor Corp Ltd Ord Price | Toyota Motor Corp Ltd Ord Quote
Price Performance
Toyota underperformed the Zacks categorized Auto Manufacturers-Foreign industry over the last three months. Share price of the company fell 8.4% while the industry saw a 6% decline. Weak guidance for fiscal 2017, frequent product recalls and large settlement on a U.S truck lawsuit are major concerns for Toyota.
Zacks Rank & Key Picks
Toyota currently carries a Zacks Rank #3 (Hold).
Better-ranked companies in the auto space include Lear Corporation (LEA - Free Report) , American Axle & Manufacturing Holdings, Inc. (AXL - Free Report) and General Motors Company (GM - Free Report) . All the stocks sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
For the current year, Lear Corporation, American Axle and General Motors expect earnings growth of around 8.9%, 8.1% and 9.4%, respectively.
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Just released: Driverless Cars: Your Roadmap to Mega-Profits Today. In this latest Special Report, Zacks’ Aggressive Growth Strategist Brian Bolan explores a full-blown technological breakthrough in the making – autonomous cars. He also spotlights 8 stocks with tremendous gain potential to feed off this phenomenon. Click to see the stocks right now >>