에 대한 최신 뉴스 Toyota Motor (NYSE:TM) 주식

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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미국 주요 지수들이 수요일에 긍정적인 흐름으로 마감되었다. 다우존스 산업평균지수는 0.09% 상승하여 42,196.52로 마감했고, S&amp;P 500지수는 0.01% 상승하여 5,709.54에 도달했다. 나스닥 지수도 0.08% 상승하여 17,925.12로 마감했다.

수요일 주목받은 주식 5종목: 엔비디아, 팔란티어, 클로버 헬스, 조비 에비에이션 및 테슬라

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조비 에비에이션(NYSE:JOBY)의 주가는 토요타 자동차(NYSE:TM)이 전기 항공 택시 인증 및 상업 생산을 지원하기 위해 추가로 5억 달러를 투자할 것이라고 발표한 후 30% 이상 급등했다.

美 전기 항공 택시 기업 조비 에비에이션, 토요타의 $5억 추가 투자로 주가 30% 이상 급등

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미국 동부 시간 수요일 오후, 시장은 연방준비제도(연준)가 금리를 0.5% 인하하기로 결정한 후 반등하고 있다. 이는 미국 중앙은행의 예상된 금리 인하 사이클의 시작을 나타낸다.

연준의 4년 만에 처음 금리 인하로 S&amp;P 500, 금 가격 사상 최고치 경신, 소형주 급등

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Nikkei Says Toyota, Subaru To Launch Jointly Developed Electric Vehicles In Japan, U.S., Europe In 2026

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Toyota Motor shares are trading lower after the company announced the delay of EV production in North America due to slowing sales.

Toyota Motor Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TM#NYSE">TM</a>) shares are trading lower premarket Thursday. The company will reportedly delay <a href="https://www.benzinga.com/electric-vehicles">electric vehicle (EV) production</a> in North America to the first half of 2026 due to slowing sales in the key auto market.
The car manufacturer cited design adjustments as a factor for the postponement and will reconsider the start date, reported <a href="https://asia.nikkei.com/Business/Automobiles/Electric-vehicles/Toyota-to-delay-U.S.-EV-production-to-2026-on-slowing-sales" target="_blank" rel="noreferrer noopener">Nikkei</a>.
The company plans to launch 10 new EV models globally by 2026, with the Kentucky plant&#8217;s SUV anticipated to be part of its next-generation EVs featuring an updated chassis.
Read: <a href="https://www.benzinga.com/markets/equities/24/08/40481090/toyota-aims-to-reduce-ev-costs-with-gigacasting-machine-report" target="_blank" rel="noreferrer noopener">Toyota Aims To Reduce EV Costs with Gigacasting Machine</a>
In September, Toyota stated it plans to cut its electric vehicle production target for 2026 to a million cars, 30% below its earlier forecast, amid <a target="_blank" 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" rel="noreferrer noopener">a&nbsp;slowdown in global demand</a>.
As per the new strategy, Toyota aims to produce over 400,000 EVs in 2025 and more than double that number the following year. This marks a significant reduction from its previous <a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">target of 1.5 million EVs by 2026</a>.
This month, Toyota reported September U.S. sales of 162,595 vehicles, with electrified models <a target="_blank" href="https://www.benzinga.com/markets/equities/24/10/41125818/toyota-motors-us-september-sales-drop-electrified-vehicles-account-for-nearly-50-of-sales" rel="noreferrer noopener">accounting for 48.4% of total sales</a>.
Lexus sales declined by 14.5% in September, while third-quarter sales for Lexus increased by 8.1% on a volume basis.
As per the report, Toyota abandoned plans to manufacture electric Lexus SUVs in North America by 2030. Instead, they will import them from Japan.
Also Read: <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" target="_blank" rel="noreferrer noopener">Toyota&#8217;s Global Output Tumbles 11% After Suspension Of Production Of 2 SUVs In North America</a>
Yesterday, Toyota said it will invest $500 million in Joby Aviation, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JOBY#NYSE">JOBY</a>) to support the certification and production of electric air taxis.
The investment will be made in two equal tranches of $250 million each. The first tranche is expected to close<a href="https://www.benzinga.com/markets/equities/24/10/41146425/toyota-doubles-down-on-joby-aviation-500m-investment-powers-us-electric-air-taxi-certification-p" target="_blank" rel="noreferrer noopener"> later this year and the second in 2025</a>. This investment will increase Toyota's total stake in Joby to $894 million.
Investors can gain exposure to the stock via&nbsp;Trust for Professional Managers ActivePassive International Equity ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/APIE#NYSE">APIE</a>) and&nbsp;Avantis International Large Cap Value ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AVIV#NYSE">AVIV</a>).
Price Action: Toyota shares are down 1.39% at $177.99 premarket at the last check Thursday.
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Toyota To Delay EV Production In North America Due To Slowing Sales: Report

The U.S. indices closed Wednesday in positive territory, with the Dow Jones Industrial Average increasing by 0.09% to 42,196.52, while the S&amp;P 500 inched up 0.01% to reach 5,709.54. The Nasdaq also rose, up 0.08% to 17,925.12.
These are the top stocks that gained the attention of retail traders and investors throughout the day:
Nvidia Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>)
Nvidia closed the day with a 1.58% gain at $118.85, with an intraday high and low of $119.38 and $115.14 respectively. The company&#8217;s 52-week high and low are $140.76 and $39.23. Nvidia and Accenture PLC have <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41151741/nvidias-ai-leadership-to-drive-1-trillion-market-growth-with-accenture-partnership-">announced a partnership</a> aimed at accelerating AI adoption within enterprises. According to Wedbush Securities&#8217; analyst Dan Ives, this collaboration paints a promising picture for Nvidia's stock.
Palantir Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NYSE">PLTR</a>)
Palantir&#8217;s stock rose 2.83% to close at $37.49. The stock hit an intraday high of $37.68 and a low of $36.15. Its 52-week high and low are $38.19 and $14.48. The company&#8217;s shares were lifted following a report that Palantir co-founder and chairman Peter Thiel has <a href="https://www.benzinga.com/news/24/10/41145602/palantir-stock-is-moving-higher-wednesday-whats-going-on">completed selling</a> the maximum number of shares under a trading plan he adopted in May.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/41083834/bitcoin-ethereum-flat-dogecoin-falls-ahead-of-fed-chair-jerome-powells-speech-price-target?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Bitcoin, Ethereum Flat, Dogecoin Falls Ahead Of Fed Chair Jerome Powell&#8217;s Speech: Price Target For King Crypto Could Be $194K-$352K, Says Top Analyst</a>
Clover Health Investments, Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CLOV#NASDAQ">CLOV</a>)
Clover Health surged 29.14% to close at $3.59. The stock&#8217;s intraday high and low were $3.65 and $2.74, with a 52-week high and low of $3.82 and $0.61. The company&#8217;s shares traded higher amid increased trading volume and traction across social media platforms. Last month, Clover Health's subsidiary, Counterpart Health, announced a <a href="https://www.benzinga.com/news/24/10/41150683/clover-health-stock-surges-over-29-on-high-volume-recap">multi-year agreement with The Iowa Clinic</a>.
Joby Aviation, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JOBY#NYSE">JOBY</a>)
Joby Aviation&#8217;s shares climbed 27.92% to close at $6.14, with an intraday high of $6.32 and a low of $5.19. The 52-week high and low are $7.69 and $4.5. The company&#8217;s stock rose after it announced that Toyota Motor Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TM#NYSE">TM</a>) will <a href="https://www.benzinga.com/markets/equities/24/10/41146425/toyota-doubles-down-on-joby-aviation-500m-investment-powers-us-electric-air-taxi-certification-p">invest an additional $500 million</a> to support electric air taxi certification and commercial production.
Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>)
Tesla&#8217;s stock fell 3.49% to close at $249.02. The stock&#8217;s intraday high and low were $251.16 and $241.50, with a 52-week high and low of $271 and $138.80. After two consecutive quarters of declining sales, Tesla reported third-quarter deliveries exceeding expectations, despite a subsequent drop in stock price attributed to lower-than-expected whisper numbers and concerns over sales of its top models. Analysts <a href="https://www.benzinga.com/news/24/10/41141444/tesla-stock-plunges-3-despite-q3-deliveries-exceeding-consensus-and-growing-year-over-year">anticipate positive earnings for the quarter</a>, but mixed views remain about upcoming events, such as the Robotaxi unveil and their potential impact on future sales and stock performance.
Image via Shutterstock
Prepare for the day&#8217;s trading <a href="Premarket Movers &amp; News">with top premarket movers and news</a> by Benzinga.
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This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

Nvidia, Palantir, Clover Health, Joby Aviation, Tesla: Why These 5 Stocks Are On Investors' Radars Today

Joby Aviation, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JOBY#NYSE">JOBY</a>) shares are trading higher after the company announced that Toyota Motor Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TM#NYSE">TM</a>) will invest an additional $500 million to support electric <a target="_blank" href="https://www.benzinga.com/pressreleases/24/10/n41140232/toyota-to-invest-500-million-in-joby-aviation" rel="noreferrer noopener">air taxi certification and commercial production.</a>
The investment will be made in two equal tranches of $250 million each, with the first expected to close later this year and the second in 2025.
This investment will increase Toyota&#8217;s total stake in Joby to $894 million and will be made in cash for common stock.
&#8220;Today&#8217;s investment builds on nearly seven years of collaboration between our companies,&#8221; said&nbsp;JoeBen Bevirt, founder and CEO,&nbsp;Joby Aviation.
On October 1, 2024, Joby Aviation entered into a stock purchase agreement with Toyota, providing for the issuance and sale in a private placement of up to an aggregate of 99.40 million shares at a purchase price of $5.03 per share, a regulatory <a target="_blank" href="https://www.sec.gov/ix?doc=/Archives/edgar/data/1819848/000181984824000397/joby-20241001.htm" rel="noreferrer noopener">filing </a>shows.
The funds will support the certification and commercial production of Joby&#8217;s electric air taxi, with terms including plans to establish a manufacturing alliance for the initial phase of commercialization.
Toyota&#8217;s relationship with Joby began with an initial investment from Toyota Ventures, the company&#8217;s early-stage venture capital arm that seeks out disruptive technologies and investment opportunities while supporting its portfolio companies.
This was followed by additional investments from Toyota, bringing the total to $394 million.
Joby is making significant strides toward commercialization, having recently rolled out its third aircraft from its pilot production line in Marina, California, and commenced construction on an expanded facility that will more than double its manufacturing footprint.
As of August 2024, Joby confirmed that it has completed over one-third of the fourth of five stages in the type certification process.
&#8220;The knowledge and support shared by Toyota have been instrumental in Joby&#8217;s success and we look forward to deepening our relationship as we deliver on our shared vision for the future of air travel,&#8221; Bevirt added.
Last month, Joby disclosed its initial step toward becoming a certified air <a target="_blank" href="https://www.benzinga.com/pressreleases/24/09/b40788072/joby-applies-to-become-first-certified-electric-air-taxi-operator-in-uae" rel="noreferrer noopener">taxi operator in the United Arab Emirates</a>.
Investors can gain exposure to the stock via WisdomTree Trust WisdomTree Battery Value Chain and Innovation Fund (BATS:<a class="ticker" href="https://www.benzinga.com/stock/WBAT#BATS">WBAT</a>).
Price Action: JOBY shares are up 24.3% at $5.954 at the last check Wednesday.
Photo via Company
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Toyota Doubles Down On Joby Aviation: $500M Investment Powers US Electric Air Taxi Certification, Production

<ul>
<li>Investment to be made in two equal tranches, with the first targeted to close later this year and the second in 2025</li>
<li>Funds will support certification and commercial production of Joby's electric air taxi</li>
<li>Investment terms to include plans to establish a manufacturing alliance for the first phase of commercialization</li>
<li>Will bring total investment from Toyota Motor Corporation in Joby to $894 million</li>
</ul>
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Toyota To Invest $500M In Joby Aviation

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Auto Industry Group Warns Protracted U.S. Ports Strike "Will Be Debilitating To The Auto Supply Chain And Set Off Economic And National Security Ripples Across The Country"

Toyota Motor Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TM#NYSE">TM</a>) shares are trading slightly lower on Tuesday after the company reported U.S. September <a target="_blank" href="https://www.benzinga.com/pressreleases/24/10/n41123422/toyota-motor-north-america-reports-u-s-september-and-third-quarter-2024-sales-results" rel="noreferrer noopener">and third-quarter sales results.</a>
Toyota Motor North America (TMNA) reported U.S. sales of 162,595 vehicles in September, a decline of 20.3% in volume and 9.9% on a daily selling rate basis.
&#8220;In September, nearly 50 percent of our total sales volume was an electrified model, an achievement made possible by our outstanding team and dealers,&#8221; said&nbsp;Jack Hollis, executive vice president, Sales, TMNA.
In September, electrified vehicle sales—including hybrids, plug-in hybrids, pure electrics, and fuel cells—accounted for 48.4% of total sales, totaling 78,683 units. This represents a 22.4% increase in volume and a 38.3% rise on a daily selling rate basis.
Also Read: <a target="_blank" href="https://www.benzinga.com/news/24/10/41124506/general-motors-gives-q3-delivery-update" rel="noreferrer noopener">General Motors Gives Q3 Delivery Update</a>
Toyota division posted September sales of 140,152 vehicles, down 21.1% on a volume basis and down 10.8% on a DSR basis.
For the third quarter, the division sold 461,883 vehicles, down 10.4% on a volume basis and down 8.0% on a DSR basis.&nbsp;
Lexus division posted September sales of 22,443 vehicles, down 14.5% on a volume basis and down 3.4% on a DSR basis. For the third quarter, the division sold 80,989 vehicles, up 8.1% on a volume basis and up 11.0% on a DSR basis.
&#8220;With 30 electrified vehicles now at Toyota and Lexus dealerships, Lexus sales recording its best-ever year-to-date result in its 35-year history, the all-new all-hybrid Toyota Camry a hit with customers, and Toyota remaining the number one retail brand in the industry, we are preparing to close out 2024 on a high note while continuing to focus on our customers,&#8221; Hollis added.
Price Action: TM shares are trading lower by 0.54% to $177.60 at last check Tuesday.
Photo by RYO Alexandre on Shutterstock
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General

Toyota Motor's US September Sales Drop; Electrified Vehicles Account For Nearly 50% Of Sales

Toyota Motor North America September U.S. Sales 162,595 Vehicles, Down 20.3% On Volume Basis; U.S. EV Sales 78,683 Vehicles, Up 22.4% On Volume Basis

Editor&#8217;s Note: The article has been updated with comments from Mercedes-Benz and Toyota.
The National Highway Traffic Safety Administration (NHTSA) has issued recalls for vehicles from Mercedes-Benz USA LLC (OTC:<a class="ticker" href="https://www.benzinga.com/stock/MBGAF#OTC">MBGAF</a>), (OTC:<a class="ticker" href="https://www.benzinga.com/stock/MBGYY#OTC">MBGYY</a>), Toyota Motors Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TM#NYSE">TM</a>), and Mazda (OTC:<a class="ticker" href="https://www.benzinga.com/stock/MZDAF#OTC">MZDAF</a>) due to software-related issues, according to the safety recall reports.
On Friday, according to an NHTSA recall report, Mercedes-Benz USA is recalling 27,190 vehicles, including the 2021-2023 Mercedes-Benz Maybach S580 and S580 models. The recall is due to a defect in the Engine Control Unit software, which may lead to increased exhaust temperatures and potential damage to surrounding components, increasing the risk of fire.
See Also: <a href="https://www.benzinga.com/news/24/09/41019716/trump-pledges-100-tariffs-on-all-cars-made-in-mexico-the-only-way-theyll-get-rid-of-that-tariff-is?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump Pledges 100% Tariffs On All Cars Made In Mexico: &#8216;The Only Way They&#8217;ll Get Rid Of That Tariff Is…&#8217;</a>
Another recall report indicated that Toyota Motors is recalling 42,199 units of the 2023-2024 Toyota Corolla Cross Hybrid. The defect involves the brake actuator&#8217;s skid control ECU software, which may cause a hard brake pedal and reduced braking force during cornering, potentially increasing the risk of a crash.
Additionally, Mazda is also recalling 77,670 units of the 2016-2023 Mazda MX-5 Miata. The issue stems from the SAS control module software, which may cause a higher force airbag deployment during minor crashes, increasing the risk of injury if seat belts are not used.
The recalls are set to begin with dealer notifications in September 2024 and owner notifications by November 2024. Affected owners are advised to contact their respective dealers for a free software update to rectify the issues.
Mercedes-Benz AG confirmed on the issues while Toyota shared their official statement that revealed that Toyota dealers will update the programming of the skid control ECU software for the brake actuator, free of charge while owners of the vehicles will be informed by November.
Mazda has yet to respond to <a href="http://pro.benzinga.com">Benzinga&#8217;s</a> queries.
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This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Pooja-Rajkumari" target="_blank" rel="noreferrer noopener">Pooja Rajkumari</a>

Tech

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Mercedes-Benz, Toyota, Mazda Issue Massive Recalls Over Software Defects: NHTSA Warns Of Fire, Brake And Airbag Risks (UPDATED)

Ford Motor (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/f#NYSE">F</a>) is trying to revitalize the sagging EV demand by addressing range anxiety or more precisely, by providing&nbsp;easier&nbsp;access to charging. Specifically, Ford offered free chargers by the end of the year in hopes to boost EV sales and leases.
<h3>Ford&rsquo;s Attempt To Revive EV Demand</h3>
As of October 1st, all those who buy or lease a Ford Mustang Mach-E, F-150 Lightning pickup truck or E-Transit Cargo van&nbsp;receive the benefit of a free charger as well as of its installation. After its EV roadtrips across Europe and western U.S., Ford came to a realization that by focusing on the charging infrastructure on the road, automakers neglected that homes are the most reliable and consistent charging station for EV owners.&nbsp;
Additional charging help is also on the way.
This month, Worksport Ltd (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/wksp#NASDAQ">WKSP</a>), a well-established innovator and manufacturer of &ldquo;made-in-the-USA&rdquo; pickup accessories and off-grid power solutions, initiated the Alpha launch of its clean power duo, the solar-powered tonneau cover SOLIS and COR mobile battery power generator. Also in September, Worksport announced it conducted successful lab test results of its COR portable energy system as a range extender for Tesla EVs, including the Model 3 and the Cybertruck.&nbsp;&nbsp;
Moreover, Worksport also just revealed it is&nbsp;progressing towards&nbsp;gaining the&nbsp;ISO 9000&nbsp;certification at its state-of-the-art West Seneca, NY factory anticipated&nbsp;by early-mid 2025.
<h3>Worksport&rsquo;s ISO 9000 Certification Update</h3>
With the ISO 9000 certification, Worksport would pave the way for OEM relationships, which means the possibility of indirect and direct sales to global car makers that include EV pioneers like Tesla Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tsla#NASDAQ">TSLA</a>) and Rivian Automotive (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/rivn#NASDAQ">RIVN</a>), as well as traditional automakers like Ford, General Motors (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/gm#NYSE">GM</a>), Hyundai Motor Company (OTC: <a class="ticker" href="https://www.benzinga.com/stock/hymtf#OTC">HYMTF</a>), Honda Motor Company (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/hmc#NYSE">HMC</a>), Stellantis N.V. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/stla#NYSE">STLA</a>), Nissan Motor Co Ltd (OTC: <a class="ticker" href="https://www.benzinga.com/stock/nsany#OTC">NSANY</a>), and Toyota Motor Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/tm#NYSE">TM</a>). While there are no guarantees, the ISO 9000 certification is a prerequisite for becoming a vendor and supply partner of the industry&rsquo;s greatest names like Toyota, GM, Ford, Toyota and others. For Worksport, this would be a major strategic milestone in terms of both quality and operational excellence. Considering that only less than 7% of the tonneau cover industry&nbsp;holds this&nbsp;certification, it would position Worksport as a leading manufacturer, especially with its patented solar tonneau covers.&nbsp;
No matter what, the EV revolution is happening.
While these initiatives and novelties won&rsquo;t fix the EV slowdown nor Ford&rsquo;s $5 billion loss from its unprofitable EV unit that is expected this year, it does show that despite challenges, the EV evolution continues.&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's reporting and has not been edited for content or accuracy.

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Automakers Are Doing Their Best To Combat The EV Slowdown

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Shares of US-listed Japanese stocks are trading lower after the Liberal Democratic Party of Japan elected Shigeru Ishiba as its leader, who will take office as Prime Minister.

Toyota shares are trading lower after the company reported a decline in sales and production.

Japanese automaker Toyota Motor (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TM#NYSE">TM</a>) said on Thursday that it sold 826,863 Toyota and Lexus brand vehicles worldwide in August, marking a drop of 3.1% from August 2023.
What Happened: The dip in global sales was spurred by a sales decline in Japan and China. 
The company&#8217;s sales in Japan dipped by 9% year on year to 109,505 units after the company suspended production of three models including the Yaris Cross. In China, sales dipped 13.5% owing to &#8220;severe market conditions&#8221; such as the intensifying price competition, the company said. 
In the U.S., however, sales increased by 1.9% from last year to 198,401 units due to the strong sales of the new Camry. That said, production within the U.S. fell by 14.5% due to the product suspension caused by the <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">recall of the Lexus TX and Toyota Grand Highlander</a> in June, the company said.
Production worldwide fell 11.2% to 709,571 units. 
Toyota&#8217;s EV Sales: Toyota sold 371,727 electrified Toyota and Lexus vehicles globally in August, marking a jump of about 23% from Aug. 2023. <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">Electrified vehicles</a> refer to hybrids, plug-in hybrids, battery electric vehicles, mild hybrids, and fuel-cell electric vehicles.
Pure electric vehicles or BEVs accounted for just 3.4% of Toyota&#8217;s overall electrified vehicle sales last month. 
Toyota has been the world&#8217;s top-selling automaker for several years now. Last year, the company sold 11.2 million vehicles to retain the position, beating German automaker Volkswagen which sold just 9.2 million cars. 
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 More:
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</ul>
Photo courtesy: Toyota

Toyota's Global Output Tumbles 11% After Suspension Of Production Of 2 SUVs In North America

Toyota Motor Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TM#NYSE">TM</a>) shares are trading lower on Tuesday. The company disclosed that it has increased its share buyback plan to up to 1.2 trillion yen ($8.31 billion) from 1 trillion yen.
The company aims to repurchase up to 530 million shares, or 3.93% of its outstanding shares, excluding treasury shares.
The duration of the share buyback remains the same, from May 9, 2024, to April 30, 2025. The automaker&#8217;s move <a href="https://global.toyota/pages/global_toyota/ir/stock/share/commonstock_20240924_en.pdf" target="_blank" rel="noreferrer noopener">reflects </a>the current stock price level and other factors.
Notably, the company resolved to increase the maximum limit for share repurchases. If shares are repurchased through the Tokyo Stock Exchange&#8217;s off-auction system, the remaining limit from the May 8 decision will be 115.5 billion yen (90 million shares).
With this increase, Toyota can now repurchase up to 315.5 billion yen (210 million shares).
In July, the company disclosed plans to repurchase ¥806.8 billion ($5.2 billion) of its shares<a target="_blank" href="https://www.benzinga.com/markets/asia/24/07/39900435/toyota-announces-5-2b-share-buyback-from-japanese-banks-and-insurers" rel="noreferrer noopener"> from key Japanese banks and insurers</a>.
The move is part of a broader strategy to untangle its shareholdings with financial partners.
This month, Toyota Motor reportedly trimmed its 2026 EV production target by 30% to 1 million cars <a target="_blank" href="https://www.benzinga.com/markets/equities/24/09/40752119/whats-going-on-with-toyota-motor-stock-today" rel="noreferrer noopener">due to a slowdown in global demand</a>.
Investors can gain exposure to the stock via&nbsp;Trust for Professional Managers ActivePassive International Equity ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/APIE#NYSE">APIE</a>) and&nbsp;Avantis International Large Cap Value ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AVIV#NYSE">AVIV</a>).
Price Action: TM shares are down 0.63% at $184.24 at the last check Tuesday.
Photo by RYO Alexandre on Shutterstock
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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Toyota Boosts Share Buyback Program: Details Here

As Tesla Stock Sneaks Into Positive Territory For Year Fund Manager Says Not 10/10 Robotaxi Event But This Would Strengthen Fledgling Recovery (alt HL)
Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) <a href="https://www.benzinga.com/news/24/09/40992274/what-happened-with-tesla-stock-today">shares climbed nearly 5% Monday</a> and settled at a psychological resistance of $250, with optimism concerning third-quarter deliveries outperformance fueling much of the upside. Amid the stock surge, a fund manager weighed in on the potential impact of the upcoming Oct. 10 Robotaxi launch event on the stock.
10/10 Stock Mover? Future Fund LLC Managing Partner Gary Black is not convinced that Oct. 10 would be a catalyst for the stock, although he didn&#8217;t rule the possibility out. He said his apprehension stemmed from the fact that Tesla&#8217;s full self-driving technology is not yet close to the 99.99% efficacy needed for unsupervised autonomy.
Most analysts have discounted supervised FSD in their models, assuming a 15-20% take rate for the existing fleet and current deliveries. Also, analysts have assumed that supervised FSD with 97% efficacy will sell more Teslas, he added.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Many <a href="https://twitter.com/search?q=%24TSLA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$TSLA</a> bulls keep talking about the robotaxi event on 10/10 as a catalyst for TSLA stock. It may be. TSLA FSD is not yet close to the 99.99% efficacy needed for unsupervised autonomy. Supervised FSD is already in most analysts' models at a 15-20% take rate x the existing… <a href="https://t.co/PFVs6IWZtz">pic.twitter.com/PFVs6IWZtz</a>
&mdash; Gary Black (@garyblack00) <a href="https://twitter.com/garyblack00/status/1838261891912572954?ref_src=twsrc%5Etfw">September 23, 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/money/how-to-buy-tesla-stock">How To Buy Tesla (TSLA) Stock</a>
Upbeat On Low-End Model: Black reiterated his optimism regarding the $25,000-$30,000 compact car from Tesla&#8217;s stable. The optimism is premised on what happened in 2019-2020 to the fundamentals and the stock after the Model Y launch, he said.
The Model Y was launched in 2019 amid shorts&#8217; high skepticism but the vehicle &#8220;ushered in a whole new TAM by vaulting TSLA into the fast-growing CUV category,&#8221; he added.
The fund manager said that the launch of a sub-$30K car on Oct. 10 is not very certain, but if it does, that&#8217;s more of a reason to buy the stock. He said that an affordable electric vehicle will allow Tesla to leverage its brand, higher range, superior tech, and better performance in the large compact category, where Toyota Motor Corp.&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TM#NYSE">TM</a>) Corolla is the leader.
&#8220;Similar to 2019-2020, $TSLAQ shorts don't understand the incremental TAM math where most TSLA Compact volume will be incremental, and not cannibalized from Model 3, which competes in an entirely different category (affordable sedans),&#8221; Black said.
Although <a href="https://www.benzinga.com/quote/TSLA/short-interest">Tesla&#8217;s short interest is far lower </a>currently compared to 2019-2020, the likely change in the current trajectory of earnings estimates from very negative to positive will change the Tesla investment narrative, the Tesla bull said. He sees Tesla&#8217;s volumes rising again, driving earnings estimates higher, which in turn will propel the stock price higher.
Tesla ended Monday&#8217;s session up 4.93% to $250, according to <a href="https://benzinga.grsm.io/register174">Benzinga Pro data.</a> With the recent rally, the stock has turned to black for the year and is up 0.61%.
Check out more of Benzinga&#8217;s Future Of Mobility coverage by&nbsp;<a href="http://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link</a>.
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</ul>
Image via Shutterstock

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