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Toyota's (TM) North American Arm to Invest $27M in California
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Toyota Motor’s (TM - Free Report) division, Toyota Motor North America (“TMNA”), recently announced a $27 million investment to bolster production capabilities.
The investment will equip Toyota Auto Body Company (“TABC”), California, with the first of kind coil-fed laser blanking line for TMNA that will expand blanking capability to include steel and aluminum increase capacity to reduce 5.6 million blanks annually. Moreover, it will enable TABC to better support Tacoma production at TMNA facilities in Baja, CA, and Guanajuato, Mexico. Also, the investment will ensure the transition of 25 TABC variable employees to permanent positions with Toyota. With this, the total investment by the facility stands at $485 million.
Toyota is enthusiastic about the investment plan and hopes to strengthen its business in California and across the United States.
TABC is Toyota’s oldest running plant in North America. It looks after the stamping and welding of parts for Tacoma and past model service parts for multiple North American-produced Toyota vehicles.
For fiscal 2022, Toyota projects consolidated vehicle sales of 10.3 million, indicating an increase from 9.9 million units sold in fiscal 2021. Fiscal 2022 sales are expected to total ¥29.5 trillion. Operating income is projected at ¥2.8 trillion, indicating growth of 27.4% year over year. Pretax profit is estimated at ¥3.52 trillion, up from the previous forecast of ¥3.4 trillion. R&D expenses are envisioned at ¥1,180 billion, suggesting a rise from ¥1,090 billion spent in fiscal 2021. Capex is forecast at ¥1.3 trillion, declining from the previous projection of ¥1.35 trillion but indicating an increase from ¥1.29 trillion spent in fiscal 2021.
Being one of the world’s leading automakers, its array of brands positions it for solid prospects. The expanding portfolio of product lines and a robust lineup of trucks and sport utility vehicles ensure long-term growth. To capitalize on the accelerated global shift to electric cars, the auto giant is deepening its focus on manufacturing electric and fuel-cell vehicles, which will bolster the company’s product competitiveness.
Honda has an expected earnings growth rate of 0.6% for the current year. The Zacks Consensus Estimate for its current-year earnings has been revised around 5.2% upward in the past 60 days.
HMC earnings beat the Zacks Consensus Estimate in all the trailing four quarters. HMC pulled off a trailing four-quarter earnings surprise of 66.4%, on average.
Nissan has an expected earnings growth rate of 161.6% for the current year. The Zacks Consensus Estimate for its current-year earnings has been revised around 1% upward in the past 60 days.
Nissan’s earnings beat the Zacks Consensus Estimate in three of the trailing four quarters and missed in one. NSANY pulled off a trailing four-quarter earnings surprise of 81.7%, on average.
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Toyota's (TM) North American Arm to Invest $27M in California
Toyota Motor’s (TM - Free Report) division, Toyota Motor North America (“TMNA”), recently announced a $27 million investment to bolster production capabilities.
The investment will equip Toyota Auto Body Company (“TABC”), California, with the first of kind coil-fed laser blanking line for TMNA that will expand blanking capability to include steel and aluminum increase capacity to reduce 5.6 million blanks annually. Moreover, it will enable TABC to better support Tacoma production at TMNA facilities in Baja, CA, and Guanajuato, Mexico. Also, the investment will ensure the transition of 25 TABC variable employees to permanent positions with Toyota. With this, the total investment by the facility stands at $485 million.
Toyota is enthusiastic about the investment plan and hopes to strengthen its business in California and across the United States.
TABC is Toyota’s oldest running plant in North America. It looks after the stamping and welding of parts for Tacoma and past model service parts for multiple North American-produced Toyota vehicles.
For fiscal 2022, Toyota projects consolidated vehicle sales of 10.3 million, indicating an increase from 9.9 million units sold in fiscal 2021. Fiscal 2022 sales are expected to total ¥29.5 trillion. Operating income is projected at ¥2.8 trillion, indicating growth of 27.4% year over year. Pretax profit is estimated at ¥3.52 trillion, up from the previous forecast of ¥3.4 trillion. R&D expenses are envisioned at ¥1,180 billion, suggesting a rise from ¥1,090 billion spent in fiscal 2021. Capex is forecast at ¥1.3 trillion, declining from the previous projection of ¥1.35 trillion but indicating an increase from ¥1.29 trillion spent in fiscal 2021.
Being one of the world’s leading automakers, its array of brands positions it for solid prospects. The expanding portfolio of product lines and a robust lineup of trucks and sport utility vehicles ensure long-term growth. To capitalize on the accelerated global shift to electric cars, the auto giant is deepening its focus on manufacturing electric and fuel-cell vehicles, which will bolster the company’s product competitiveness.
Toyota’s closest peers include Honda (HMC - Free Report) and Nissan (NSANY - Free Report) .
Honda has an expected earnings growth rate of 0.6% for the current year. The Zacks Consensus Estimate for its current-year earnings has been revised around 5.2% upward in the past 60 days.
HMC earnings beat the Zacks Consensus Estimate in all the trailing four quarters. HMC pulled off a trailing four-quarter earnings surprise of 66.4%, on average.
Nissan has an expected earnings growth rate of 161.6% for the current year. The Zacks Consensus Estimate for its current-year earnings has been revised around 1% upward in the past 60 days.
Nissan’s earnings beat the Zacks Consensus Estimate in three of the trailing four quarters and missed in one. NSANY pulled off a trailing four-quarter earnings surprise of 81.7%, on average.