Does Toyota Stock Have the Potential to Grow?

Toyota Reports Strong Fiscal Q3 Earnings, Beating Expectations

Toyota Motor, the world’s largest car maker, has reported an operating profit of $11.3 billion for its fiscal third quarter, surpassing Wall Street expectations of $9.2 billion. The company’s U.S.-listed shares surged 10.8%, reaching a record high of $224.46. While Toyota’s vehicle mix has changed at a slower pace compared to American rivals Ford Motor and General Motors, the company expects to sell around 120,000 battery plug-ins in the fiscal year, an increase from the 38,000 sold the previous year. Toyota’s success offers investors hope in an industry that is transitioning towards electrified vehicles.