Loading ...The automotive industry has not had a good year. American brands are near bankruptcy and even Japanese cars, which have had success over the years have seen a dip in sales. Toyota (NYSE: TM) is no exception. In 2008, Toyota saw red for the first time in decades.
However, this isn’t to say that Toyota isn’t a good company. In the past few years, they have enjoyed a great deal of success on their environmentally-friendly hybrid cars (the first Prius made its debut in 1997). However, in the current economy, people are not spending money on non-necessities and deferring any major item expnditures for as long as possible. They are therefore not buying new cars, let alone hybrids, which cost more.
While Toyota’s popularity in North America is more recent, the brand itself has been around for more than 70 years. Making its debut in the 1936, it was first marketed under the name Toyoda, which was the name of the founder. The name was changed later on, as it was not only easier to write “Toyota” in Japanese, but the change also took away the association to traditional farming (Toyoda translates to “fertile rice paddies”).
In addition to a variety of Toyota-branded cars, Toyota is also the owner of Lexus, their luxury car brand. Like many other car companies, Toyota likely chose a different name for the luxury brand to disassociate the brand with the more “regular Joe” name of Toyota. Lexus made its debut in 1989 and is now the biggest selling luxury car in the United States. Like the main Toyota brand, Lexus also has a series of hybrid vehicles. In addition, one of the newest features of Lexus vehicles is the self-parking mode, found in the LS series.
While Toyota has suffered a loss this year, it remains in better shape than the so-called Big Three. As the Big Three continue to be in trouble, it is actually giving an opportunity for Toyota to grow.
On Tuesday, January 20, Toyota opened in the NYSE at 67.99 and closed at 65.88. Its 52-week highs and lows are 117.69 and 55.41
Loading ...