The stock price of Toyota Motor Company jumped 3.4 percent to close at 9,423 yen (or Php 4,107) on the Tokyo stock market on June 1, reaching its highest-ever level. Part of this milestone is the rapid increase in investors due to the car company’s strong sales forecast, as well as its efforts to endure the global chip shortage thanks to its supply chain management.
Toyota Motor Corporation continues to grow its market reach
In a report by Nikkei, Toyota has now surpassed its previous high in 2007 in terms of market capitalization, reaching 30.7 trillion yen (or Php 13.4 trillion). It is an impressive feat considering that the global market collapsed due to the drastic effects of the COVID-19 pandemic.
What’s more impressive is the fact that there was an increase in stock price last Tuesday despite the temporary suspension of Toyota’s manufacturing and sales operations in Malaysia. Rival Japanese car brand Honda in Malaysia will do the same as the country’s government announced a nationwide lockdown until June 14.
Another factor auto analysts look at as to how Toyota manages to thrive amid global crises is the car company’s drive for electrification. Investors and analysts see a promising result out of Toyota’s electric vehicle (EV) strategy which includes the full production of battery and fuel-cell electric vehicles by 2030.
The car company aims to sell eight million EVs in 2030
However, the carmaker’s shift to EVs might hit a stumbling block as explained by Kazaharu Konishi, general manager of Mitsubishi UFJ Kokusai Asset Management’s equity investment division. He said that domestic production could lead to a delay in adopting EVs into its lineup.
Despite the commendable performance shown by Toyota, its market cap is still far behind American EV manufacturer Tesla, whose market cap is more than twice the Japanese car brand has. One can expect that Toyota’s EV push could potentially help close the gap, as soon as more of its EV models are officially added to its lineup.
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Know more about Toyota RAV4 2021
To complement the contemporary sharp-angled design language, the Japanese carmaker created the all-new Toyota RAV4. It sits just on top of the Fortuner for being a more premium crossover-type that can accommodate five occupants. It was initially introduced as a compact SUV to the market in 1994 to provide the demands of urban markets. Now over the years, the Toyota RAV4 has evolved into something more and now part of the fifth-generation model. The Japanese automakers abandon the old rounded style that makes the car appear boxier. Designers of Toyota were inspired by the brand's rugged variety of SUVs, such as the US market midsize Tacoma truck as well as the 4Runner SUV. There are three distinct variants available - the LE worth Php 1.71 Million, XLE with a price tag of Php 1.92 Million, and LTD valued at Php 2.24 Million. The Toyota RAV4 is offered in nine different colors - Dark Blue Mica, Cyan Metallic, Urban Khaki, Red Mica, Attitude Black Mica, Grey, Silver, White Pearl Crystal Shine, and Super White. Furthermore, all the variants are powered by a 2.5-liter Dual VVT-i DOHC four-cylinder gasoline engine. The power plant generates 243 Nm of peak torque output and 202 hp. For safety purposes, Toyota RAV4 features seven airbags, electronic stability control, ABS with EBD, hill start assist, parking sensors, traction control, and the like.