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Toyota Motor

Founded in 1937, Toyota is one of the world's largest automakers, with 11.1 million units sold at retail in fiscal 2024, including 10.3 million across the Toyota and Lexus brands. Brands include Toyota, Lexus, Daihatsu, and truck maker Hino; market share in Japan is about 52% excluding mini-vehicles, while US share is around 15%. The firm also owns stakes in Denso, a parts supplier, about 20% of Subaru, and holds investments in many other firms, including shares of Uber Technologies, Joby Aviation, Aurora Innovation, Isuzu Motors, and about 5% in each of Mazda and Suzuki. Fiscal 2024 sales excluding financial services were JPY 41.6 trillion. Toyota also has a financing arm and manufactures homes and boats.

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Investment veteran Gary Black cautions that Tesla Inc will lose the most if the $7,500 federal electric vehicle tax credit is eliminated, citing the company&#39;s overwhelming dependence on EV sales compared to traditional automakers.

Tesla Earnings Will Be Hit Hardest If $7.5K EV Credit Gets Cut By Trump, Warns Gary Black: &#39;Do The Math&#39;

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Toyota plans to produce 2.5M vehicles/year in China by 2030, while shifting development and production operations for greater efficiency.

Toyota To Make Strategic Shift In China, EVs

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On Wednesday, Toyota Motor Corporation (NYSE: TM) issued its fiscal second quarter results, posting a weaker-than-expected profit due to production halts and macroeconomic events.  Its smaller domestic rival, Honda Motor Co. Ltd.

Toyota And Honda&#39;s Profits Drop Due To Challenges In China

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Investment veteran Gary Black cautions that Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) will lose the most if the $7,500 federal electric vehicle tax credit is eliminated, citing the company&#8217;s overwhelming dependence on <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/41988194/trump-plans-to-erase-ev-tax-credit-analyst-says-its-net-bullish-calls-sell-off-wrong-knee-jerk-reaction">EV sales compared to traditional automakers</a>.
What Happened: Black, managing partner at The Future Fund LLC, points to Tesla&#8217;s recent history of price-related challenges as evidence for his concern. &#8220;Tesla&#8217;s earnings power declined by 45% and shares fell by 70% in 15 months&#8221; following price cuts of 15-20% in late 2022 and 2023, he noted on social media platform X.
The potential loss of the tax credit could effectively increase Tesla&#8217;s U.S. vehicle prices by 20%, affecting approximately 30% of the company&#8217;s global sales volume. Black emphasizes that Tesla&#8217;s vulnerability stems from its business model, where electric vehicles represent about 80% of revenue.
&#8220;No one else has anywhere near that degree of exposure to EVs,&#8221; Black wrote, contrasting Tesla&#8217;s position with traditional automakers. He dismisses concerns about the impact on legacy manufacturers, noting that companies like General Motors Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>) and Toyota Motor Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TM#NYSE">TM</a>) saw earnings growth during Tesla&#8217;s recent downturn.
Black&#8217;s analysis challenges some Tesla supporters who suggest the credit&#8217;s removal would primarily hurt traditional automakers. He argues that mathematical analysis doesn&#8217;t support this view, pointing out that EVs typically constitute only 5-10% of legacy automakers&#8217; business.
&#8220;Why would raising price on 5-10% of legacy auto's business bankrupt them? C'mon folks &#8211; please do the math,&#8221; Black wrote. 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">I love when <a href="https://twitter.com/search?q=%24TSLA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$TSLA</a> bulls try to spin negative industry news as good for TSLA but bad for everyone else. When TSLA cut prices by 15-20% in late-2022 and 2023 — which sparked a price war — I was one of the few who warned repeatedly that TSLA earnings would get decimated, while mgmt… <a href="https://t.co/c03qw3c53V">https://t.co/c03qw3c53V</a> <a href="https://t.co/cwXIrzmsTI">pic.twitter.com/cwXIrzmsTI</a>
&mdash; Gary Black (@garyblack00) <a href="https://twitter.com/garyblack00/status/1857186024977543546?ref_src=twsrc%5Etfw">November 14, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
See Also: <a href="https://www.benzinga.com/markets/equities/24/11/41993666/warren-buffetts-berkshire-hathaway-slashes-apple-bofa-holdings-adds-dominos-pizza-in-q3">Warren Buffett&#8217;s Berkshire Hathaway Slashes Apple, BofA Holdings, Adds Domino&#8217;s Pizza In Q3</a>
Why It Matters: The potential elimination of the $7,500 EV tax credit has been a topic of concern for Tesla and the EV industry as a whole. Despite the negative implications, some analysts believe that this move could be <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/41988194/trump-plans-to-erase-ev-tax-credit-analyst-says-its-net-bullish-calls-sell-off-wrong-knee-jerk-reaction">beneficial for Tesla</a>.
Meanwhile, Tesla&#8217;s stock has been on the rise since the 2024 presidential election, with Elon Musk&#8216;s endorsement of President-elect Donald Trump being seen as a <a href="https://www.benzinga.com/trading-ideas/24/11/41985486/if-tesla-stock-hits-all-time-highs-in-2025-will-it-be-driven-by-trump-musk-relationship-benzinga-readers-say-this">significant factor in this growth</a>.
Furthermore, the recent announcement of Musk as the co-lead for the Department of Government Efficiency (DOGE) has been <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/41968621/analysts-divided-about-impact-of-elon-musk-co-leading-doge-on-tesla-stock-heres-what-bulls-and-bears-have-to-say">met with mixed reactions</a> from analysts, with Black suggesting that this appointment may not have a significant impact on Tesla&#8217;s stock.
Price Action: Tesla stock closed at $311.18 on Thursday, down 5.77% for the day. In after-hours trading, Tesla slipped a further 1.15%. Despite recent drops, Tesla&#8217;s stock has gained 25.26% year to date, according to <a href="https://www.benzinga.com/pro/">data from Benzinga Pro</a>.
Read Next: 
<a href="https://www.benzinga.com/trading-ideas/24/11/41997142/viking-fund-management-sells-big-oil-stocks-in-q3-cuts-tesla-position-in-half-adds-to-largest-position-broadcom">Viking Fund Management Sells Big Oil Stocks In Q3, Cuts Tesla Position In Half, Adds To Largest Position Broadcom</a>
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Tesla Earnings Will Be Hit Hardest If $7.5K EV Credit Gets Cut By Trump, Warns Gary Black: 'Do The Math'

Toyota Motor Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TM#NYSE">TM</a>) shared ambitious production goals for China while maintaining a cautious stance towards the U.S.
The Japanese automaker plans to produce at least 2.5 million vehicles annually in China by 2030.
Toyota aims to bring its sales and production operations closer together and give local executives more control over development, Reuters reports.
Also Read: <a target="_blank" href="https://www.benzinga.com/analyst-ratings/downgrades/24/11/41855430/bath-body-works-stock-downgraded-due-to-this-risk-details" rel="noreferrer noopener">Bath &amp; Body Works Stock Downgraded Due To This Risk: Details</a>
This strategic shift marks a notable pivot for the automaker as it seeks to regain market share lost to local competitors like BYD.
Unlike other global automakers, including fellow Japanese brands scaling back in China, Toyota aims to boost its production capacity to as many as 3 million vehicles per year by the end of the decade.
Although Toyota has not set a formal target, the higher figure would represent a 63% increase from its record output of 1.84 million vehicles in China in 2022.
Reuters stated that Toyota has already begun notifying suppliers about the planned production ramp-up to secure its supply chain and signal its long-term commitment to the Chinese market.
The automaker aims to streamline its Chinese joint ventures by integrating sales and production operations for greater efficiency while shifting more development responsibility to local teams familiar with market preferences, particularly in electrified and connected vehicles.
Toyota&#8217;s struggles in China have been compounded by domestic EV makers, who have quickly launched affordable, tech-savvy models that appeal to Chinese consumers.
While Toyota has enhanced collaboration between its R&amp;D center in Jiangsu and its local joint ventures, it still faces challenges as vehicles independently developed by its joint venture partners outperform those co-developed with Toyota.
Therefore, Toyota plans to consolidate production for each model at a single joint venture facility and offer the models at dealerships of both joint ventures.
Last week, China unveiled a <a target="_blank" href="https://www.benzinga.com/government/regulations/24/11/41843262/chinas-stimulus-plan-not-enough-to-ignite-stocks" rel="noreferrer noopener">new fiscal stimulus package</a> committing 6 trillion yuan ($840 billion) to alleviate hidden debt burdens faced by local governments.
The broad financial initiative, scheduled for completion by the end of 2026, signals a major effort by Beijing to tackle rising economic challenges and boost growth in the face of global uncertainties.
Meanwhile, Toyota&#8217;s North American COO criticized U.S. policies that push rapid electric vehicle (EV) adoption and fail to reflect current consumer demand.
Jack Hollis, COO of Toyota North America, argued that EV sales should grow naturally without penalizing gas-powered vehicles, noting that government support for EVs has been a contentious topic in the recent U.S. presidential election, Bloomberg <a target="_blank" href="https://www.bloomberg.com/news/articles/2024-11-08/toyota-executive-lashes-out-at-us-regulations-promoting-ev-sales?sref=TBDibEcD" rel="noreferrer noopener">reports</a>.
Hollis pointed out that the EPA and California emission regulations are &#8220;ahead of the consumer,&#8221; creating a mismatch with what buyers want.
In March, the EPA introduced stringent emissions limits to reduce carbon dioxide output to 85 grams per mile by 2032. These rules, endorsed by the Biden-Harris administration, faced criticism from President-elect Donald Trump throughout the campaign.
California&#8217;s regulations go even further, aiming to phase out all new gas-powered cars by 2035, a model many states have adopted. Hollis, who oversees Toyota&#8217;s U.S. sales, warned that such measures exacerbate affordability issues as EVs remain more expensive than traditional vehicles.
Previously, Toyota was among the last automakers to withdraw support for the Trump administration&#8217;s effort to prevent California from setting its emissions standards.
Toyota plans to introduce two American-made EVs by 2026, in addition to its existing all-electric models in the U.S., following a more gradual approach to the EV market shift.
Hollis mentioned that Toyota might reconsider the production balance between fully electric and hybrid batteries at its new North Carolina facility, slated to open next year.
The plant includes ten production lines for electric and plug-in models alongside four dedicated lines for hybrid batteries, reflecting Toyota&#8217;s incremental strategy in the evolving EV landscape.
Toyota&#8217;s <a target="_blank" href="https://www.benzinga.com/news/earnings/24/11/41780408/toyota-stock-slides-on-q2-earnings-the-details" rel="noreferrer noopener">second-quarter sales</a> were 11.44 trillion yen ($76.29 billion), marking its first quarterly profit drop in two years. However, it topped analyst&nbsp;estimates&nbsp;of 11.41 trillion yen. Sales volumes declined 20%.
The company reported 2.3 million vehicle sales for the quarter, down from 2.41 million a year ago. Toyota also cut its full-year vehicle production target to 10.85 million from 10.95 million.
Price Action: TM stock traded higher by 1.19% to $174.08 at the last check on Monday.
Also Read:
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<li><a href="https://www.benzinga.com/analyst-ratings/price-target/24/11/41851786/epam-inks-strategic-deals-enjoys-robust-tax-benefits-analyst" target="_blank" rel="noreferrer noopener">EPAM Inks Strategic Deals, Enjoys Robust Tax Benefits: Analyst</a></li>
</ul>
Image via Shutterstock

<a href="https://www.bloomberg.com/news/articles/2024-11-08/toyota-executive-lashes-out-at-us-regulations-promoting-ev-sales">https://www.bloomberg.com/news/articles/2024-11-08/toyota-executive-lashes-out-at-us-regulations-promoting-ev-sales</a>
&nbsp;
Toyota Motor Corp.'s North American chief operating officer criticized the US's policies promoting speedy adoption of electric vehicles, calling them "de facto mandates" out of sync with consumer demand.

Management

'Toyota Executive Lashes Out At U.S. Regulations Promoting EV Sales' - Bloomberg News

On Wednesday, Toyota Motor Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/tm#NYSE">TM</a>) issued its fiscal second quarter results, posting a weaker-than-expected profit due to production halts and macroeconomic events.&nbsp;&nbsp;Its smaller domestic rival, Honda Motor Co. Ltd. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/hmc#NYSE">HMC</a>) reported a surprising decrease in operating profit that was dragged down by a significant sales drop in China.
Honda&rsquo;s disappointing Q2 results reflect significant hit from unfavorable market conditions in China.
Honda reported that fiscal second quarter&nbsp;net profit contracted by 20%&nbsp;494.68 billion yen, equivalent to $3.26 billion with operating profit dropping 15% to 257.9 billion yen.
For the fiscal year that will March 2025, Honda now expects an even bigger net profit drop, increasing its prior guidance of a 9.7% fall to a 14% drop. While it previously expected to sell 3.9 million units&nbsp;during the fiscal year, it now lowered its guidance to 3.8 million&nbsp;as&nbsp;first-half group car sales dropped 8% to 1.78 million.&nbsp;During the six months that ended on September 30th, revenue still&nbsp;grew 12% so despite falling short of estimates, Honda remains optimistic.&nbsp;
<h3>Toyota&rsquo;s Fiscal Q2 Highlights</h3>
For the quarter that ended on September 30th, Toyota reported its operating income tumbled&nbsp;20% to 1.16 trillion yen which amounts to $7.81 billion, coming short of Bloomberg&rsquo;s estimate of 1.25 trillion yen. This was Toyota&rsquo;s first profit decline in two years and it is owed to weaker sales in its main market, North America.&nbsp;
The world&rsquo;s largest automaker by sales volume reported revenue of&nbsp;11.44 trillion&nbsp;&nbsp;yen, topping LSEG&rsquo;s consensus estimate of&nbsp;11.41 trillion yen while net profit attributable to company more than halved compared to last year&rsquo;s comparable quarter to 573.7 billion yen. Sales volume slipped to 2.3 million from 2023&rsquo;s comparable quarter when it amounted to 2.42 million units.&nbsp;
One should note that sales were up against 2023&rsquo;s record as Toyota benefited from pivoting towards hybrids over all-electric vehicles. Hybrid sales fell 35% YoY over the past six months, but Toyota still sold an impressive figure of 1.8 million units.
<h3>Toyota&#39;s Trimmed Guidance</h3>
Toyota lowered its prior sales forecast of 10.95 million units to 10.85 million. However, it reaffirmed its annual sales revenue guidance of 46.00 trillion yen and a net income of 3.57 trillion yen.&nbsp;
Overall, Toyota posted stable sales in a challenging macroenvironment. Despite&nbsp;surface-level weakness in unit sales and profitability, Toyota&rsquo;s latest report shows a relatively stable performance.&nbsp;
Historically, Toyota has a good track record when it comes to growth, but the EV era that is in the making brought its fair share of challenges which will undoubtedly continue to test Toyota&rsquo;s strength.
DISCLAIMER: This content is for informational purposes only. It is not intended as investing advice.
This article is from an unpaid external contributor. It does not represent Benzinga's reporting and has not been edited for content or accuracy.

Toyota And Honda's Profits Drop Due To Challenges In China

Toyota Motor Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TM#NYSE">TM</a>) reported second-quarter financial results before the market open on Wednesday. Here&#8217;s a rundown <a href="https://www.benzinga.com/news/earnings/24/11/41767933/toyota-motor-q2-sales-76-29b-beat-72-27b-estimate">of the report</a>. 
What Happened: Toyota reported second-quarter sales of 11.44 trillion yen ($76.29 billion), beating analyst <a href="https://www.benzinga.com/calendars/earnings">estimates</a> of 11.41 trillion yen. The company reported operating income of 1.15 trillion yen.
The second quarter marked Toyota&#8217;s first quarterly profit drop in two years, per Reuters. 
Sales volumes were down 20% year-over-year. The automaker reported 2.3 million vehicle sales for the quarter, compared to 2.41 million vehicles sales in the same period last year. Toyota also cut its full-year vehicle production target to 10.85 million from 10.95 million. 
Related Link: <a href="https://www.benzinga.com/markets/equities/24/11/41767527/tesla-stock-surges-over-13-in-premarket-what-is-going-on">Tesla Stock Surges Over 13% In Premarket: What Is Going On</a>
Toyota has been slower than competitors in making a shift to electric vehicles. Toyota chairman Akio Toyoda reportedly said an all-electric vehicle future would create significant job losses in the automotive industry.
"There are 5.5 million people involved in the automotive industry in Japan. Among them are those who have been doing engine-related (work) for a long time," he reportedly told reporters. 
"If electric vehicles simply become the only choice, including for our suppliers, those people's jobs would be lost."
Toyota raised its full-year dividend forecast to 90 yen and maintained its profit forecast for the current year at 4.3 trillion yen.
TM Price Action: At the time of publication, <a href="http://benzinga.com/quote/tm">Toyota shares</a> were down 0.62% at $173.64, according to data from <a href="https://www.benzinga.com/pro/">Benzinga Pro</a>.
Image: Photo via Shutterstock

Earnings

Movers

Toyota Stock Slides On Q2 Earnings: The Details

Guidance

Toyota Affirms FY Sales Revenues, Operating Income & Net Income Outlook

Toyota Cuts Fiscal Year Vehicle Production Target To 10.85M From Previously Expected 10.95M Vehicles

Toyota Motor (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TM#NYSE">TM</a>) reported quarterly sales of $76.29 billion which beat the analyst consensus estimate of $72.27 billion by 5.57 percent.&nbsp;

Earnings Beats

Toyota Motor Q2 Sales $76.29B Beat $72.27B Estimate

Earnings season is about to kick off for <a href="https://www.benzinga.com/topic/mobility">air mobility players</a> Joby Aviation Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JOBY#NYSE">JOBY</a>), Archer Aviation Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ACHR#NYSE">ACHR</a>), and Blade Air Mobility Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLDE#NYSE">BLDE</a>).
According to JPMorgan analyst Bill Peterson, advanced air mobility (AAM) stocks are at a pivotal point, with certification hurdles, capital demands, and strategic partnerships set to dominate upcoming earnings calls. 
Here's what investors can expect as these pioneering companies prep for their third-quarter "flight plans."
See Also: <a href="https://www.benzinga.com/news/earnings/24/11/41753888/apollo-global-management-stock-climbs-after-company-beats-q3-estimates">Apollo Global Management Stock Climbs After Company Beats Q3 Estimates</a>
<h2 class="wp-block-heading">Investors Keep A Close Watch On Certification, Cash Burn</h2>
Investor sentiment in AAM has been slowly climbing, but certification delays for eVTOL (electric vertical takeoff and landing) aircraft remain a persistent drag. Certification is both capital- and time-intensive, and without a clear timeline from U.S. and European regulators, institutional investors are increasingly focused on which players have the balance sheet strength to navigate the long runway to commercialization.
Peterson notes that investor inbounds have spiked recently, with key questions centering on catalysts expected over the next six to 12 months. The recent $500 million Toyota Motor Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TM#NYSE">TM</a>) investment in Joby Aviation shows confidence in its tech and timeline, though short interest remains elevated at 18%, while Archer's recent capital raise could prompt scrutiny on funding stability—especially as ACHR's short interest stands at a lofty 27%.
Read Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/41095651/chargepoint-siemens-power-ev-revolution-as-evtol-industry-prepares-for-liftoff">ChargePoint, Siemens Power EV Revolution As eVTOL Industry Prepares For Liftoff</a>
<h2 class="wp-block-heading">Earnings Catalysts: Certification Progress, Strategic Partners, Cash Flow</h2>
Earnings reports this quarter will likely serve as updates for each company's progress on four major fronts: 
<ul>
<li>Certification advancements</li>
<li>Strategic partnerships</li>
<li>Cash burn, and</li>
<li>New commercial or defense contracts.</li>
</ul>
Investors are eager for clarity on FAA milestones, with the agency recently loosening some eVTOL pilot training requirements that could have otherwise delayed timelines.
Blade, rated Overweight by JPMorgan, stands out for its diversified business model, including its medical transport services. The capital-light setup gives Blade a potentially clearer path to profitability compared to its peers. With only 7% short interest, investors seem relatively confident in Blade's resilience, particularly given its lower funding risk.
<h2 class="wp-block-heading">Election Impact? Minimal, Say Analysts</h2>
Interestingly, the upcoming U.S. election appears to be less of a concern for AAM stocks, with only 17% of surveyed investors expecting election outcomes to impact the AAM sector significantly. 
That's a stark contrast to higher election exposure concerns across other tech sectors, suggesting investors see air mobility's long-term trajectory as less politically sensitive, for now.
<h2 class="wp-block-heading">Stock Forecasts, Ratings</h2>
Peterson has rolled forward his price targets, accounting for valuation adjustments in the context of multiple compressions. Here's the breakdown:
<ul>
<li>Joby Aviation: Rated Neutral, with a price target of $5. Despite the Toyota investment, short interest and funding risks are on investors&#8217; minds. Certification milestones will be crucial for maintaining investor confidence.</li>
<li>Archer Aviation: Rated Overweight, with a price target of $6. While Archer has raised capital, Peterson believes the company can close its valuation gap in the long term.</li>
<li>Blade: Also rated Overweight, with a $6 price target. Blade's diversified revenue model and medical transport services make it a relative safe bet in the volatile AAM space.</li>
</ul>
<h2 class="wp-block-heading">What&#8217;s Next For Air Mobility?</h2>
For AAM stocks, the path forward hinges on regulatory clarity, investor patience, and continued capital access. While this earnings season may not resolve the sector's biggest questions, a few well-placed updates could send shares soaring—or struggling to stay afloat.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/esg/24/11/41718893/tesla-reigns-supreme-in-texas-ev-market-as-drivers-weigh-environment-vs-savings">Tesla Reigns Supreme In Texas EV Market As Drivers Weigh Environment Vs. Savings</a></li>
</ul>
Image via Joby Aviation

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JOBY

Air Mobility Stocks Prepare For Takeoff: Will Joby, Archer, Blade Soar Above Certification, Cash Challenges?

<a href="https://asia.nikkei.com/Business/Automobiles/Electric-vehicles/Toyota-open-to-fresh-EV-hybrid-battery-investments-in-North-America" title="https://asia.nikkei.com/Business/Automobiles/Electric-vehicles/Toyota-open-to-fresh-EV-hybrid-battery-investments-in-North-America">https://asia.nikkei.com/Business/Automobiles/Electric-vehicles/Toyota-open-to-fresh-EV-hybrid-battery-investments-in-North-America</a>

'Toyota open to fresh EV, hybrid battery investments in North America' -Nikkei

Toyota Motor Corporation ((Toyota, NYSE:<a href="https://www.benzinga.com/stock/TM#NYSE">TM</a>) and Joby Aviation, Inc. ((Joby, NYSE:<a href="https://www.benzinga.com/stock/JOBY#NYSE">JOBY</a>), a company developing electric air taxis for commercial passenger service, today announced the completion of Joby's first international exhibition flight which took place at Toyota's Higashi-Fuji Technical Center in Shizuoka, Japan earlier this week.

Toyota and Joby Aviation Complete First Electric Air Taxi Flight in Japan

Toyota Motor North America October U.S. Sales 185,929 Vehicles, Down 5% On Volume Basis

<a href="https://pressroom.toyota.com/toyota-motor-north-america-announces-executive-changes-11/" title="https://pressroom.toyota.com/toyota-motor-north-america-announces-executive-changes-11/">https://pressroom.toyota.com/toyota-motor-north-america-announces-executive-changes-11/</a>
&nbsp;
&nbsp;After more than 30 years of service, Robert Young, group vice president, Purchasing Supplier Development, Toyota Motor North America (TMNA) will retire on March 28, 2025. In his role, Young is responsible for overseeing all vehicle parts and materials, indirect manufacturing procurement and supplier development, and preparation for TMNA.
&ldquo;Bob has been instrumental in maintaining the world-class reputation of our Purchasing group and continues to ensure our product development and manufacturing operations are set up for success and prepared for the future,&rdquo; said Chris Nielsen, executive vice president, Product Support and Chief Quality Officer.&nbsp; &ldquo;We&rsquo;re thankful for his dedication to Toyota, our suppliers and his community and wish him well in his upcoming retirement.&rdquo;
Bob joined Toyota in 1995 and has served in a number of roles in the Purchasing division, including several buying and department general manager roles. He currently serves on the Boards of the Michigan Minority Supplier Development Council (MMSDC) and Ann Arbor SPARK, a non-profit economic development organization committed to growing the Ann Arbor region&rsquo;s economy.
Ryan Grimm will succeed Young as group vice president, Purchasing Supplier Development as of Dec. 2, 2024, reporting to Nielsen. Grimm is currently vice president of Parts &amp; Materials Procurement in Purchasing Supplier Development at TMNA. Prior to his current role, Grimm was&nbsp;on assignment at Plano HQ and held responsibilities in OneTech and Part Supply Chain Operations. Grimm joined Toyota in 1998 as a Buyer in Purchasing and has spent 26 years in various functions at TMNA including three years at Toyota Motor Corporation (TMC) in Toyota City, Japan.

Reported Earlier, Toyota Motor North America's Longtime Head Of Purchasing, Bob Young Is Stepping Down Early Next Year

Toyota Motor's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TM#NYSE">TM</a>) short percent of float has risen 20.0% since its last report. The company recently reported that it has 779 thousand shares sold short, which is 0.06% of all regular shares that are available for trading. Based on its trading volume, it would take traders 2.08 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Toyota Motor Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1730399417_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Toyota Motor has grown since its last report. This does not mean that the stock is going to fall in the near-term but traders should be aware that more shares are being shorted.
<h3>Comparing Toyota Motor's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Toyota Motor's peer group average for short interest as a percentage of float is 9.41%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Short Sellers

Short Ideas

Looking Into Toyota Motor's Recent Short Interest

Japanese automaker&nbsp;Toyota Motor (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TM#NYSE">TM</a>) said on Wednesday that it sold 853,149 Toyota and Lexus brand vehicles worldwide in September, a drop of 7.4% from September 2023, marking four consecutive months of drop in sales. 
What Happened:&nbsp;The dip in global sales was spurred by a sales decline in Japan, the U.S., and China. 
The company's sales in Japan dipped by 6.3% year-on-year to 135,179 units owing to the operation suspension caused by Typhoon No.10 to the end of August. 
In the U.S., sales dipped 20.3% due to the product suspension caused by the&nbsp;<a href="https://www.benzinga.com/markets/equities/24/06/39530068/toyota-issues-recall-of-over-145-000-vehicles-amid-production-decline-in-may-whats-going-on" target="_blank" rel="noreferrer noopener">recall of the Lexus TX and Toyota Grand Highlander</a>&nbsp;in June in addition to impacts from the hurricane to the end of September. 
In China, too, sales fell 9.2% to 160,457 units owing to &#8220;continued severe market conditions&#8221; including an intensifying price war, the company said.
Production worldwide fell 8.3% to 826,556 units in September, marking the <a href="https://www.benzinga.com/news/24/09/41063317/toyotas-global-output-tumbles-11-after-suspension-of-production-of-2-suvs-in-north-america">eighth consecutive month of decline</a>. The decline was spurred by a decline in production in Japan and China where production fell 10.6% and 18.8%, respectively. 
Toyota's&nbsp;EV Sales:&nbsp;Toyota sold 403,221 electrified Toyota and Lexus vehicles globally in September, marking a jump of about 16% from Sept. 2023.&nbsp;<a href="https://www.benzinga.com/markets/asia/24/09/40745366/toyota-scales-back-2026-ev-production-plans-by-30-trims-target-to-1m-cars-as-global-demand-weakens-r" target="_blank" rel="noreferrer noopener">Electrified vehicles</a>&nbsp;refer to hybrids, plug-in hybrids, battery electric vehicles, mild hybrids, and fuel-cell electric vehicles.
Pure electric vehicles or BEVs accounted for just 2.8% of Toyota's overall electrified vehicle sales last month.
Check out more of Benzinga&#8217;s Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link.</a>
Read Next:
<ul>
<li><a href="https://www.benzinga.com/news/24/10/41617327/lucid-to-start-taking-orders-for-gravity-suv-next-week-but-only-for-premium-variant-priced-at-about">Lucid To Start Taking Orders for Gravity SUV Next Week, But Only For Premium Variant Priced At About $95,000</a></li>
</ul>
Photo courtesy: Toyota

Toyota's Global Sales Drop For 4th Straight Month In September As US, China Sales Tumble Due To Recalls, Price War

Japanese groups to invest $3bn in R&amp;D, aim for practical use by 2028
<a href="https://asia.nikkei.com/Business/Automobiles/Toyota-and-NTT-to-team-on-AI-self-driving-to-prevent-crashes" title="https://asia.nikkei.com/Business/Automobiles/Toyota-and-NTT-to-team-on-AI-self-driving-to-prevent-crashes">https://asia.nikkei.com/Business/Automobiles/Toyota-and-NTT-to-team-on-AI-self-driving-to-prevent-crashes</a>

'Toyota and NTT to team on AI self-driving to prevent crashes' - Nikkei

WIIM

MUFG

SMFG

Sony Group Corporation American Depositary Shares

SONY

Shares of US-listed Japanese companies are trading higher amid a drop in the price of the yen after the Liberal Democratic Party coalition lost its parliamentary majority.

<ul>
<li>Hyundai Motor Company and Toyota Motor Corporation host inaugural &#39;Hyundai N x TOYOTA GAZOO Racing Festival&#39;, bolstering motorsport culture in&nbsp;South Korea</li>
<li>Hyundai Motor Group Executive Chair&nbsp;Euisun Chung&nbsp;and Toyota Chairman&nbsp;Akio Toyoda&nbsp;actively participate in dynamic vehicle show runs</li>
<li>The festival features a variety of high-performance vehicles from both companies, including Hyundai&#39;s IONIQ 5 N Drift Spec and Toyota&#39;s GR YARIS Rally 1 HYBRID</li>
<li>Hyundai Motor continues to develop South Korean motorsport culture with latest event, building on past initiatives spanning more than two decades</li>
</ul>

HYMTF

Reported Sunday, Hyundai And Toyota Unite To Boost Motorsport Culture With Inaugural 'N x GAZOO Racing Festival' In South Korea

The Biden Administration on Thursday issued final approval for Ioneer&#8217;s lithium mine, a big step toward bringing <a href="https://www.benzinga.com/news/24/10/41443369/arkansas-may-be-sitting-on-19m-tons-of-lithium-amid-rising-demand-for-ev-batteries-how-to-invest-in">battery material sourcing to the U.S.</a> 
What To Know: Ioneer announced it received its federal permit for the Rhyolite Ridge Lithium-Boron Project in Nevada from the Bureau of Land Management.
Rhyolite Ridge is now the first U.S. lithium project to be approved by the Biden Administration&nbsp;as the government ramps up efforts to source battery metals domestically and offset China&#8217;s dominance. 
Construction of the mine is expected to start in 2025 with first production targeted for 2028. Ioneer said Rhyolite Ridge will supply batteries for more than 370,000 American-made electric vehicles. Ioneer could ultimately be a supplier for Ford Motor Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>) and Toyota Motor Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TM#NYSE">TM</a>). The company signed separate off-take agreements with Ford and a joint venture involving Toyota in 2022.
"I can say with absolute confidence there are few deposits in the world as impactful as Rhyolite Ridge. Today's approval of Ioneer's federal permit is the culmination of countless hours of work and a testament to our remarkable team's dedication to developing and building one of the most sustainable mining projects in the country," said James Calaway, executive chairman of Ioneer.
"We are pleased by what we have achieved working with the Biden Administration, and by the bi-partisan support we have received at the federal, state and local levels."
The lithium mine approval is the <a href="https://www.benzinga.com/markets/asia/24/05/38824198/biden-announces-massive-tariffs-on-chinese-imports-to-protect-us-industries-clean-energy-solar-stock">latest move</a> from the Biden Administration to reduce reliance on China for critical minerals production. 
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/equities/24/10/41445066/as-trump-kamala-harris-and-biden-unite-against-nippon-steels-15b-us-steel-acquisition-japanese-s">As Trump, Kamala Harris, And Biden Unite Against Nippon Steel&#8217;s $15B US Steel Acquisition, Japanese Steelmaker Spends $1.3M On Lobbying Efforts</a></li>
</ul>
This illustration was generated using artificial intelligence via Midjourney.

Government

Biden Administration Approves First Lithium Project

With all eyes on Tesla Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tsla#NASDAQ">TSLA</a>) and its third quarter earnings that are scheduled for release after the bell, General Motors (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/gm#NYSE">GM</a>) made quite an earnings appearance this week, smashing estimates and hiking its earnings guidance for the third time this year, fueled by the strength of trucks and crossovers in the U.S. market.
The unquestioned king of pickup trucks Ford Motor (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/f#NYSE">F</a>) is due to report it result on October 28th. But while General Motors continued to expand its EV lineup, Ford has been turning to hybrids to deal with mounting EV losses.
The last but not least of the Big Three in the U.S., Stellantis (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/stla#NYSE">STLA</a>), might have started with layoffs earlier in October, which are part of its broader cost cuts, but this week, it revealed its plans to launch an EV fleet with game changing technology.&nbsp;
Everyone is adapting differently to the evolving automotive landscape.
Stellantis to launch EV fleet fitted with factorial solid-state batteries
By 2026, Stellantis will be launching a demonstration fleet of EVs fitted with solid-state batteries from U.S. startup Factorial. This battery technology reduces fire risk and enables automakers to make lighter and lower-cost EVs while improving their range on a single charge.&nbsp;By integrating Factorial&#39;s innovative battery solution into the STLA Large platform, Stellantis is validating its potential to enhance its EV lineup, improving the experience for its EV buyers. Batteries will be fitted in a fleet of all-new Dodge Charger Daytona vehicles, with the STLA Large platforms also supporting large-sized models of other group brands, such as Jeep, Chrysler, Alfa Romeo and Maserati.&nbsp;
Meanwhile, Worksport Ltd (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/wksp#NASDAQ">WKSP</a>) continues to enhance the pickup experience with its innovative tonneau covers.
Established as an innovative&nbsp;U.S.-based manufacturer of hybrid and clean energy solutions for light trucks, Worksport&nbsp;just announced a targeted market release of its highly anticipated&nbsp;AL4 Premium Tonneau Cover has been scheduled for December 15th,&nbsp;with manufacturing of production-ready samples for testing and customer evaluation already in motion. With this launch, Worksports expects to further&nbsp;boost sales channels,&nbsp;improve profit margins, and enhance brand penetration considering that this is the&nbsp;highest-volume category of all hard tonneau covers in the&nbsp;$4 billion&nbsp;market. The initial offering will cover Ford Motor, Ram under the Stellantis umbrella and General Motors with Chevrolet and GMC brands, while the R&amp;D team works on developing variations to suit Toyota Motor (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/tm#NYSE">TM</a>), Nissan Motor Co Ltd (OTC: <a class="ticker" href="https://www.benzinga.com/stock/nsany#OTC">NSANY</a>), and Honda Motor Co Ltd (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/hmc#NYSE">HMC</a>).
Worksport already disrupted the market with its solar-power duo: the tonneau cover SOLIS and the&nbsp;portable battery system COR that are currently in the Alpha release phase.&nbsp;These portable&nbsp;nano-grid systems&nbsp;are set to revolutionize off-grid power solutions, bringing the pickup experience to a whole new level. In September, Worksport reported successful lab results of level 1 Tesla charging with the COR energy system, more precisely of the Model 3. Therefore, Worksport addressed range anxiety that has also been troubling owners of the Tesla Cybertruck, while already nearing completion of product engineering for its solar-powered ecosystem to fit the first electric pickup that has hit the road, the R1T from Rivian Automotive (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/rivn#NASDAQ">RIVN</a>). In addition, Worksport also has an active partnership with Hyundai for the SOLIS that will also be available for General Motor and Ford pickups, among others.&nbsp;
Electric or powered by an internal combustion engine, pickups are as strong as it gets so no wonder their popularity is showing no signs of fading away even in the EV era that is changing the automotive industry for good.&nbsp;
DISCLAIMER: This content is for informational purposes only. It is not intended as investing advice.
This article is from an unpaid external contributor. It does not represent Benzinga&#39;s reporting and has not been edited for content or accuracy.

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