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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