#5 - Toyota Motor (NYSE:TM)
Electric vehicle (EV) sales didn’t accelerate as forecasted. If you live in or around a major city, it may surprise you to know that the EV infrastructure is not as developed in other areas of the country. Plus, when you consider that the current lithium-ion batteries may perform poorly in extreme temperatures, the market may not be as robust as first thought.
Toyota, meanwhile, has remained focused on hybrid vehicles. In 2022 and 2023, that strategy weighed on the company as more investor dollars went to start-up EV companies. But in 2024, hybrids are gaining popularity, offering consumers the benefits of electrification without the limitations of full EVs. With hybrid technology expanding into larger vehicles like SUVs and trucks, Toyota is well-positioned to capitalize on shifting consumer preferences.
About Toyota Motor
Toyota Motor Corporation designs, manufactures, assembles, and sells passenger vehicles, minivans and commercial vehicles, and related parts and accessories in Japan, North America, Europe, Asia, Central and South America, Oceania, Africa, and the Middle East. It operates in Automotive, Financial Services, and All Other segments.
More about Toyota Motor- Current Price
- $181.48
- Consensus Rating
- Hold
- Ratings Breakdown
- 1 Buy Ratings, 2 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- N/A
