Toyota shares plunge after financial analyst says car is a good investment

Toyota shares plunge after financial analyst says car is a good investment

August 4, 2021 Comments Off on Toyota shares plunge after financial analyst says car is a good investment By admin

Toyota shares plunged on Friday after a financial analyst said the company’s newest luxury car was a good buy.

Shares of Toyota were down almost $1.40 to $26.82 after the analyst said Toyota had made “very good” progress on its plan to make a full-size pickup.

Analysts said Toyota was making “significant progress” on the company-wide plan to develop a new full-sized pickup, with a goal to produce a vehicle in 2019.

The analyst, Jeff Bewkes, told analysts in a conference call that the company was in the “very early stages of making progress” with the plan.

Toyota shares were down nearly $1 to $30.97.

Toyota’s shares are down about 25% since January.

The company had previously said it would build two full-sized pickups a year.

Toyotas future vehicle plans have been in flux as the company has shifted focus to a new segment of its business, one that includes luxury and luxury vehicles.

In a report earlier this year, Bewke estimated Toyota had more than 4 million vehicles in the United States alone.

In the current report, he said Toyota plans to introduce a new sedan in 2019 and make a midsize pickup in 2020.

Toyo has also been working on a new hybrid vehicle that it hopes to market to consumers.

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