Toyota, the world’s largest automaker, reported blowout results for its fiscal year 2024, though investor response was muted as the company issued a...
), the world’s largest automaker by production, reported blowout results for its fiscal year 2024, though investor response was muted as the company issued a conservative outlook, reflecting heavy investments that need to be made as its business transforms.
“This fiscal year, in addition to our 1.7 trillion yen investment in growth areas , we plan to dedicate 380 billion yen to such investment in human resources to strengthen our work foundation and to change how we work, together with our suppliers and dealers,” he continued. Toyota Motor CEO Koji Sato speaks during a press conference on May 8, 2024, in Tokyo, Japan. “As we strive to build a future sustained by electricity and hydrogen, battery EVs are the missing piece,” Sato said in theof the investor presentation, per Bloomberg. Sales of Toyota’s popular hybrids are also included in the company’s transformation.
CFRA's Garrett Nelson, who has a Buy rating on Toyota, believes the automaker is poised to grow over the next year because of its prowess with hybrids.
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