Toyota's Soaring April Sales: Hybrids and EVs Stealing the Show
Portfolio Pulse from Anusuya Lahiri
Toyota Motor Corp's (NYSE:TM) global sales and production in April 2023 increased by nearly 5% Y/Y, driven by strong demand for hybrids and gasoline-powered cars in Japan and China. Sales of hybrids in Japan rose by 59.2% Y/Y, while sales in China jumped 46.3% Y/Y. The automaker also reported better overseas sales of battery electric vehicles (EVs), selling 8,584 units worldwide.
May 30, 2023 | 12:56 pm
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Toyota's global sales and production in April 2023 increased by nearly 5% Y/Y, driven by strong demand for hybrids and gasoline-powered cars in Japan and China. Sales of hybrids in Japan rose by 59.2% Y/Y, while sales in China jumped 46.3% Y/Y.
The increase in global sales and production for Toyota is a positive sign for the company, as it shows strong demand for its products, particularly hybrids and gasoline-powered cars in Japan and China. This growth in sales could lead to a positive short-term impact on the company's stock price.
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