Toyota Global Sales And Production Rise For Second Straight Month In February – Retail Sentiment Dips But Stays Bullish

NYSE-listed shares of Japanese automaker Toyota Motor Corp (TM) were in the spotlight on Friday after the company reported a 5.8% jump in sales of its Toyota and Lexus brand vehicles in February, marking the second straight month of growth.

Global sales of the vehicles touched 761,717 units during the month, owing to a 28.2% jump in sales within Japan, coupled with a smaller 2.1% jump in sales outside the country.

Sales within Japan rose owing to a recovery from last year's certification issue and new car launches, the company said.

However, for North America, sales dropped nearly 6.5% owing to insufficient hybrid electric vehicle inventory and fewer operating days despite strong demand, the company said.

The company’s production of Toyota and Lexus vehicles also jumped 5.8% last month to 779,790 units. Production rose 16.2% within Japan and merely 0.6% outside the country, it said.

On Stocktwits, retail investor sentiment about Toyota fell from ‘extremely bullish’ to ‘bullish’ territory (64/100) while message volume rose from ‘normal’ to ‘high’ levels over the past 24 hours.

U.S. President Donald Trump on Wednesday signed an executive order imposing 25% tariffs on automobile imports into the country.

The tariffs are expected to take effect on April 3 and are likely to impact Toyota’s imports into its largest market.

NYSE-listed shares of Toyota are down over 7% this year and by nearly 29% over the past 12 months.

Also See: Milestone Pharmaceuticals Stock Plunges 60% After FDA Declines To Approve Its Cardamyst Nasal Spray – But Retail’s Positive

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