What's Going On With Toyota Motor Stock Today?
Portfolio Pulse from Nabaparna Bhattacharya
Toyota Motor Corporation's stock is trading lower due to a reduction in its 2026 electric vehicle production target by 30%, amid a global demand slowdown. However, Toyota will benefit from Japan's $2.4 billion support for EV battery production. The stock has lost over 29% in the past six months.
September 06, 2024 | 3:32 pm
News sentiment analysis
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NEGATIVE IMPACT
Trust for Professional Managers ActivePassive International Equity ETF, which includes Toyota, may see a slight impact due to Toyota's stock decline.
APIE holds Toyota shares, so its performance may be slightly impacted by Toyota's stock decline due to reduced EV production targets.
CONFIDENCE 80
IMPORTANCE 40
RELEVANCE 30
NEGATIVE IMPACT
Avantis International Large Cap Value ETF, which includes Toyota, could experience minor effects from Toyota's stock drop.
AVIV includes Toyota in its holdings, so the ETF might see a minor impact from Toyota's stock decline due to the EV production cut.
CONFIDENCE 80
IMPORTANCE 40
RELEVANCE 30
NEGATIVE IMPACT
Toyota's stock is down as it cuts its 2026 EV production target by 30% due to weak global demand. However, it stands to benefit from Japan's $2.4 billion support for EV battery production.
Toyota's decision to cut its EV production target is a negative signal for its growth prospects, leading to a short-term stock price decline. However, the Japanese government's support for EV battery production could mitigate some negative impacts.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100