Why Investors Slammed the Brakes on Toyota Stock Today [Yahoo! Finance]
Toyota Motor Corporation (TM)
US:NYSE Investor Relations:
toyota-global.com/investors
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Source: Yahoo! Finance
Investors in auto companies always fear news of product recalls, since the subsequent hit to a manufacturer's reputation can ding the price of its stock. That's what happened on Friday with Japanese automaker Toyota Motor (NYSE: TM) , as a market sell-off followed the announcement of its latest recall. By market close today, the company's shares had lost 3.5% of their value; investors would have been better off simply tracking the S&P 500 index, which slipped by only 0.1%. A 42,000-strong recall This morning, the National Highway Traffic Safety Administration (NHTSA) published a press release on recent news that Toyota is recalling more than 42,000 2023 and 2024 Corolla Cross hybrids it sold in the ever-influential U.S. market. The concern is about a loss in power brake assist; in certain instances, this can lengthen the distance needed to come to a complete stop. The NHTSA said it detected a software error in the unit that prevents the vehicle from skidding. That error could
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- Toyota Motors, Mazda issue recalls for Canadian vehicles [Yahoo! Finance Canada]Yahoo! Finance Canada
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- Next-Gen Toyota GR86 To Get 300-Hp Plus Turbocharged Hybrid [Forbes]Forbes
- Toyota's August output and sales dragged lower, Japan takes a hit [Seeking Alpha]Seeking Alpha
TM
Sec Filings
- 9/25/24 - Form 6-K
- 9/24/24 - Form 6-K
- 9/4/24 - Form 6-K
- TM's page on the SEC website