Toyota Motor Corporation’s (TM) shares remained stable at the close of session on Dec 24, after the company reported global production of 9.5 million vehicles for the first eleven months of 2014, up 1.4% year over year.
Toyota’s total worldwide production fell 6.6% year over year to 830,106 units in Nov 2014. While production in Japan declined 5.7% to 331,319 units, production outside Japan went down 7.2% to 498,787 units. The figure includes production of passenger cars, trucks and buses by Toyota as well as its subsidiaries Hino Motors, Ltd. and Daihatsu Motor Co., Ltd.
Total sales in Japan fell 6.6% to 180,723 units due to a 3.6% fall in sales of Daihatsu and an 8.5% decline in sales of Toyota. The combined market share of Toyota, Hino and Daihatsu increased 1.1 percentage points to 43.4%.
Sales of Toyota mini-vehicles in Japan plunged 30.4% year over year to 2,699 units in November. The market share of Toyota in Japan inched up 0.2 percentage points to 28.6% including mini-vehicles and 3 percentage points to 48.6% excluding mini-vehicles.
Meanwhile, exports inched down 0.7% year over year to 159,050 units as a result of a 0.9% decline in Toyota’s exports. The decline was driven by lower exports to North America, Latin America, Asia, Oceania and Africa.
Toyota currently carries a Zacks Rank #3 (Hold). Investors interested in the auto industry could consider better-ranked stocks like Meritor, Inc. (MTOR), Tower International, Inc. (TOWR) and Dana Holding Corporation (DAN) all sporting a Zacks Rank #1 (Strong Buy).
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