Where Is Toyota Motor Corp (ADR)(NYSE:TM) Heading?
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Toyota Motor Corp (ADR)(NYSE:TM) could see its value decrease as a result of vehicle recall orders. On Sept. 11th, the Japan-based company announced it had recall 140,000 Tundra CrewMax pickup trucks as a result of a possible airbag defect. The company also recalled an additional 6 million vehicles due to an unrelated airbag problem.
Other Toyota drivers are reporting issues with their vehicles, including a Rhode Island man who claims his 2010 Corolla accelerates on its own. While Toyota’s issues pale in comparison to those suffered by other motor companies, this is certainly an issue to keep track of moving forward.
The Japan-based car company also recently announced that it would be reconsidering its decision to expand in Mexico. The company’s present, Akio Toyoda, recently decided to pause the company’s search for an assembly plant site, but will also be reconsidering the project by the end of the year. The plant would be used to expand Toyota’s manufacturing operations to include passenger cars.
The company does currently have the capacity to manufacture 63,000 Tacomo pick-up trucks in Baja California on a yearly basis. Toyota would be able to lower its manufacturing costs by opening plants in Mexico, which would help to boost the company’s financial figures across the board.
Additionally, Toyota’s relationship with popular California-based electric car company Tesla Motors Inc(NASDAQ:TSLA) may also proceed in the future. Tesla Motors currently sells electric car batteries to the Japan-based car manufacturer and the company’s CEO, Elon Musk, recently announced that he “would not be surprised to see a more substantial agreement struck between the companies.
While Toyota has not released an official statement in response to Musk’s comments, there is large history of dealings between the two automakers and the popularity of Tesla Motors continues to grow in the United States. Toyota could benefit greatly by maintaining ties with Tesla Motors.
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