- Toyota Motor Corp’s (NYSE:TM) April 2023 global sales and production were up year-on-year due to a rebound from the pandemic-induced semiconductor crisis.
- The global sales rose by close to 5% in April Y/Y, thanks to robust demand for hybrids and gasoline-powered cars in Japan and China.
- The automaker also reported better overseas sales of battery electric vehicles (EVs).
- Toyota in April sold 800,863 vehicles globally, including its luxury Lexus brand, up by 4.9% Y/Y, Reuters reports.
- Sales of hybrids like the new Prius in Japan posted a substantial 59.2% Y/Y jump to make up just over 50% of the 125,326 vehicles sold in the company’s home market in April, outpacing the 21.5% rise in its overall domestic car sales.
- In China, Toyota sales jumped 46.3% Y/Y to 162,554 units in April.
- In April, the automaker sold 8,584 battery EVs worldwide, including its Lexus brand, accounting for over 1% of its global sales in a month for the first time.
- Price Action: TM shares traded lower by 0.64% at $139.18 premarket on the last check Tuesday.
- Photo via Wikimedia Commons
Cowen & Co. Downgrades Avantor to Market Perform, Lowers Price Target to $28
Cowen & Co. analyst Dan Brennan downgrades Avantor (NYSE:AVTR) from Outperform to Market Perform and lowers the price target from $39 to $28.
