Toyota Motor Corp (NYSE:TM), the largest automaker in the world, denied promising a new $10 billion investment in the U.S. following President Donald Trump's meeting with Japanese Prime Minister Sanae Takaichi.
Check out the current price of TM here.
Toyota Says Did Not Promise New Investment
Hiroyuki Ueda, a Toyota executive, said that the company "didn't specifically say" that it'll invest $10 billion in the U.S. over the course of the next few years, Reuters reported on Wednesday.
"During the first Trump administration, I think the figure was roughly around $10 billion," Ueda said, adding that the $10 billion figure came up "because of that context."
Trump Says "Buy A Toyota"
Toyota's comments come as Trump, while addressing U.S. troops stationed in Japan on board the USS George Washington, urged them to "buy a Toyota," citing a potential $10 billion investment from the automaker by establishing auto plants across the country.
Toyota's Strong 2025 Performance
Meanwhile, Toyota released its production and sales data for September, showcasing a production growth of 11.1%. The automaker cited a strong demand in the U.S. for its hybrid models as one of the drivers of growth in production, which has been surging for the fourth consecutive month.
Toyota sold over 185,748 units in the U.S. during September. The company had previously announced eight consecutive months of growth for the automaker in August, with U.S. sales growing 13.6%.
Toyota offers satisfactory Momentum and scores well across the Value, Growth and Quality metrics. It also boasts a favorable price trend in the Short, Medium and Long terms. For more such insights, sign up for Benzinga Edge Stock Rankings today!
Check out more of Benzinga’s Future Of Mobility coverage by following this link.
Read Next:
Photo courtesy: Shutterstock
© 2025 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
