Toyota Motor Corporation (NYSE:TM) is one of the top 10 undervalued blue chip stocks analysts recommend for smart investing. Reuters reported on May 28 that, according to a report by Toyota Motor Corporation (NYSE:TM) released on Thursday, the company’s global vehicle sales dropped for a third consecutive month in April, hit primarily by sharp declines in the Middle East and China. It further clarified that global sales fell 3.1% from the prior year period to 849,306 vehicles, while overseas sales dropped 7.5%. However, sales in Japan grew 24.2%, rebounding after earlier purchase delays that took place ahead of an environmental tax change.
Reuters also provided a region-wise breakdown, reporting that sales in the Middle East fell 33.7% to just over 31,000 vehicles and dropped 25.4% in China in a backdrop featuring tough market conditions. Sales in the company’s biggest market, the United States, also dropped 4.6%.
Toyota Motor Corporation further stated that global production grew 2.0% in April compared to the prior year period, with a 12.9% growth in Asia helping offset declines in the U.S. and Japan. The company’s figures include its luxury Lexus brand.
Toyota Motor Corporation manufactures and sells motor vehicles and parts. The company’s operations are divided into the following segments: Automotive, Financial Services, and All Other.
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