Toyota's Electrification Pledge: Plans Full EV Option By 2025-End In US; 2023 US Sales Surge 6.6%
Portfolio Pulse from Nabaparna Bhattacharya
Toyota Motor Corporation (NYSE:TM) reported a 6.6% increase in 2023 U.S. sales, reaching nearly 2.25 million vehicles. Q4 sales rose 15.4% Y/Y, and December sales surged 25.5% Y/Y. The company plans to offer an electrified option for every Toyota and Lexus model in the U.S. by the end of 2025. TM shares saw a slight increase of 0.28% to $181.87.
January 03, 2024 | 6:17 pm
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Toyota's U.S. sales increased by 6.6% in 2023, with a significant rise in Q4 and December. The company is committed to electrifying its lineup by 2025, which could attract environmentally conscious consumers and investors.
The positive sales growth and the commitment to electrification are likely to be viewed favorably by investors, potentially leading to a short-term increase in stock price. The slight uptick in share price reflects initial positive reception.
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IMPORTANCE 80
RELEVANCE 100