TOYOF - Toyota: The BEV Promise Is Worth Watching

2024-04-16 20:16:44 ET

Summary

• Toyota's stock price has risen by 32% year-to-date, outperforming other major automotive manufacturers. But the forward P/E indicates that the upside has been exhausted for now.
• This can change if the company releases robust FY25 forecasts, after expectations of strong revenue growth and improved margins. The performance of BEVs would be particularly insightful to note.
• Toyota has big plans for the segment, which it has lagged in so far. But it promises more models, longer-range batteries, faster charging times and stylish design.
• It has already launched two new BEV models in 2024 and has ambitious expansion plans going forward as well, which are worth watching.

Japanese carmaker Toyota Motor Corporation ( TM ) stands out among the biggest five automotive manufacturers by market capitalisation in how much its price has risen year-to-date. TM is up by 32% compared with the second-fastest growing Mercedes-Benz Group AG ( OTCPK:MBGAF ) at 16.3% (see chart below)....

For further details see: