Toyota Motor Stock Price, News & Analysis

On April 6, 2023, Toyota announced the launch of the 2023 Corolla Cross Hybrid, enhancing its SUV lineup with improved performance and efficiency. The vehicle boasts a Fifth Generation Toyota Hybrid System, producing 196 horsepower and an EPA-estimated 42 MPG. The Corolla Cross Hybrid will be available in three sport grades: S, SE, and XSE, with a starting MSRP of $27,970. Key features include exclusive all-wheel drive, a spacious interior, and advanced safety technologies such as Toyota Safety Sense 3.0. The hybrid aims to support Toyota's carbon neutrality efforts through a wide range of electrified vehicles. The Corolla Cross Hybrid will hit dealerships in June 2023 and be assembled in the U.S. at a new manufacturing plant in Huntsville, Alabama.

Toyota unveils the all-new 2023 Prius and Prius Prime, supported by the "This is Prius Now" marketing campaign. The redesigned models feature sporty styling, advanced performance, and cutting-edge technology aimed at appealing to a broader audience. The Prius LE starts at $27,450, while the Prius Prime SE is priced from $32,350. Both models showcase significant improvements: the Prius boasts up to 57 MPG and 196hp, while the Prius Prime offers an estimated 44 miles of all-electric range and 52 MPG. Notable for its holistic marketing approach, the campaign includes diverse media placements, focusing on the vehicle's performance and aesthetic. Toyota strives for carbon neutrality through its electrified vehicle portfolio, committing to sustainable mobility for all customers.

The 2023 Prius Prime features a manufacturer-estimated 44-mile all-electric range, a 76% increase over its predecessor, and boasts 52 MPG combined in hybrid mode. The vehicle's powertrain includes a 150-hp engine and 220-system-net-horsepower, enhancing acceleration by 35% with a 0-60 time of 6.6 seconds. Equipped with advanced technologies like Traffic Jam Assist and a 12.3-inch touchscreen, the Prius Prime is designed for comfort and efficiency. Prices start at $32,350 for the SE model, with limited availability expected in May 2023.

Toyota, Huntsville Utilities, and Toyota Tsusho America announced a $49 million solar project in Huntsville, Alabama, aimed at generating 70% of Toyota Motor Manufacturing, Alabama's power from solar energy. The 30-megawatt solar facility, located near the Toyota engine plant, will produce 62,000 megawatt hours annually, cutting CO₂ emissions by approximately 22,000 metric tons. Set to begin construction this spring with operations starting in summer 2024, this initiative aligns with Toyota's goal of carbon neutrality by 2035. The collaboration marks a significant advancement in clean energy production for the region.

Toyota has unveiled the new 2024 Toyota Tacoma, designed to enhance its position as the best-selling midsize pickup in America. The Tacoma showcases the innovative i-FORCE MAX performance technology and promises exciting design and features. With over 39,000 employees in the U.S. and nine manufacturing plants, Toyota remains committed to sustainable mobility, offering 22 electrified vehicle options. The company aims to further enrich its manufacturing capabilities with a new plant in North Carolina dedicated to automotive battery production by 2025. Updates on the Tacoma's design and features are expected soon.

Toyota Motor North America reported March 2023 U.S. vehicle sales of 176,456, a 9.1% decrease from March 2022. Electrified vehicle sales comprised 27.5% of total sales, while total first-quarter sales fell 8.8% to 469,558 units with electrified vehicles at 25.3%. The Toyota division saw a 12% drop in March sales, totaling 150,099, while Lexus division sales rose 12.1% to 26,357 units. Notably, the Corolla HEV and Highlander HEV models showed significant sales increases. Toyota offers 22 electrified vehicle options, the most among automakers, reflecting a strategic shift towards sustainable mobility.

Toyota Motor North America has appointed Tellis Bethel as its new chief diversity officer, effective April 3, 2023. Bethel will lead initiatives to promote diversity and inclusion within the company, reporting to president and CEO Ted Ogawa. He will also continue his role as the chief social innovation officer, overseeing strategic partnerships and educational initiatives. Under the previous CDO, Sandra Phillips Rogers, Toyota improved its Diversity Inc. ranking from #18 to #4. The company emphasizes its commitment to advancing diversity, with a holistic approach impacting workplace culture, community, and the marketplace.

Toyota has announced the winners of the 2023 Dream Car USA Art Contest, highlighting youth creativity in automotive design. The contest encompassed three categories for ages 4-15, with winners selected for their innovative concepts. Key winners include Mirabelle Gu (Gold, 4-7), Kaavya Jethwani (Gold, 8-11), and Lingfei Coco Truong (Gold, 12-15). The awards encourage future mobility ideas and align with Toyota's commitment to sustainable transportation. The contest is part of a global initiative, with the U.S. participants representing their designs in a worldwide competition.

A class-action lawsuit has been filed against Toyota Motor Sales, USA regarding roof-rail defects in 2019-2021 RAV4 models. The lawsuit claims that defective roof-rail systems cause leaks, resulting in severe water damage, electrical failures, and rendering the vehicle unsafe. Plaintiffs, represented by Saltz Mongeluzzi Bendesky, P.C., allege that Toyota concealed knowledge of these defects and refused to cover repair costs. The complaint highlights potential health risks from mold exposure and asserts that later models have addressed the issue. Owners demand accountability and a nationwide recall to prevent further safety incidents.