Toyota staying strong as a car company amid global crises

Updated Nov 05, 2021 | Same topic: Automotive Industry Updates

The COVID-19 did not slow the Japanese car brand down.

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 RAV4 EV front view

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.

Toyota Corolla EV front view

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 2024

Toyota RAV4

The Toyota RAV4 is a 5-seater compact crossover that is offered in the Philippines with a price that ranges from Php 2,289,000 to Php 2,632,000. The two variants for the RAV4 sold locally is the XLE 2.5 HEV CVT, and the LTD 2.5 HEV CVT. 

Under the hood, this vehicle is powered by a 2.5-liter Dual VVT-I inline-4 gasoline engine working with an electric motor generator. Combined, this hybrid powertrain can produce up to 215 hp and 221 Nm of torque. Power is then sent to its front wheels through a continuously variable transmission (CVT). 

Size-wise, the 2023 Toyota RAV4 is 4,600mm long, 1,855mm wide, and 1,685mm in height. It also has a wheelbase length of 2,690mm. 

Locally, the RAV4 competes against the likes of the Honda CR-V, Subaru Forester, Kia Sportage, Mazda CX-5, among others. 

₱ 2,289,000 - ₱ 2,632,000

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Rex Sanchez

Rex Sanchez

Author

Rex Sanchez grew up in Saudi Arabia where he saw and got into the automotive scene. He started his career for an aviation company in the said region, writing about turbines and rotors which are later distributed for educational purposes. And now, he joined Philkotse.com as a staff writer. Currently, he is the youngest on the team and is more than ready to grow in the field.

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