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Toyota Motor Corporation (TM) - free report >>
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Toyota Motor Corporation (TM) - free report >>
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Toyota (TM) Adds 543K Vehicles to Takata Airbag Recall
Toyota Motor Corporation (TM - Free Report) is recalling 543,000 additional vehicles in the U.S. to replace defective front passenger seat airbag inflators made by Japanese supplier Takata Corp. These airbags were recently declared as defective by Takata.
The recall covers models including the 2008–2009 Scion xB, 2009 and 2012 Corolla and Corolla Matrix, 2007–2009 and 2012 Toyota Yaris, 2012 4Runner and Sienna and some variants of Lexus made during 2006–2012.
Massive recalls are being announced by all automakers to replace defective Takata airbag inflators that can explode in a crash, sending metal shrapnel into the passenger compartments. As a result of the defect, 16 people have been killed and nearly 180 have been injured globally. Over 100 million vehicles made by 17 automakers have been affected by the problem.
Toyota Motor Corp Ltd Price
Toyota Motor Corp Ltd Ord Price | Toyota Motor Corp Ltd Ord Quote
Price Performance
Toyota has underperformed the Zacks-categorized Automotive– Foreign industry over the last three months. The automaker’s shares have gained 3.8% over this period, compared with the 4.8% gain recorded by the industry.
Zacks Rank & Key Picks
Toyota currently carries a Zacks Rank #3 (Hold). Better-ranked companies in the auto space include Penske Automotive Group, Inc. (PAG - Free Report) , Fox Factory Holding Corp (FOXF - Free Report) and GKN plc .
Penske Automotive has an expected long-term earnings per share growth rate of 8.2%. It carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Fox Factory carries a Zacks Rank #2. The company has an expected earnings growth rate of around 16.6% for the long term.
GKN holds a Zacks Rank #2 and has a long-term growth rate of 6.3%.
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