As the earnings season moves into final innings, some fast-moving names led by Disney, Ferrari and Constellation are due to report.
Toyota stock is trouncing Tesla in 2024, and while a popular explanation is the consumer shift to hybrid vehicles, investors shouldn’t forget about the Yen. In 2023, Toyota exported some two million vehicles from Japan, about 20% of its total sales. There is also the benefit of a relatively lower cost structure, which can be used to expand profit margins or market share—or both.
Hybrid vehicle sales are surging in the U.S. while battery-electric cars pile up on dealer lots. According to Cars.com hybrids and plug-in hybrid vehicles, or PHEVs, average $48,918, while the average price for an all-battery electric vehicle is $63,802. Sales of battery electric vehicles, or BEVs, grew just 7% year over year in the first quarter of 2024, according to data provider WardsAuto, down from 43% year-over-year growth in the fourth quarter of 2023.