Toyota Sees Increase in 2012 Sales; Flat Sales in 2013 (TM)
Following reported sales which were released on Thursday, automobile company, Toyota Motor Corporation(TM) now sees sales to increase globally.
The company sees its brands to increase sales by 3% to 8.9 million units, although Japanese sales in total are expected to decline 5% to 2.04 million units in 2013.
On global basis, TM expects sales to be flat at 9.94 million units.
For 2012, TM estimates brand sales to increase by 22% to 8.68 million units, and global sales to increase 22% to 9.7 million units.
In total, production for the year is expected to see a 26% upside to 9.92 million units.
Toyota shares were up 66 cents, or 0.73% during premarket trading Thursday. The stock is up 36.6% YTD.
The Bottom Line
Shares of Toyota Motor (TM) have a 1.62% dividend yield, based on last night’s closing stock price of $90.36. The stock has technical support in the $85 price area. If the shares can firm up, we see overhead resistance around the $93-$96 price levels.
Toyota Motor Corporation(TM) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.3 out of 5 stars.
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