Why Toyota Stock Was Sinking Today
Two developments with Toyota Motor (NYSE: TM) weren't greeted with enthusiasm by the stock market Thursday. Investors exited the stock, to the point where it was trading down by almost 3% in late-session trading. That was a steeper fall than the 0.4% dip of the S 500 index at that point.
The first piece of news was about Toyota's electric vehicle (EV) efforts. An article in Reuters, citing a report in Japan's Nikkei business daily, said the giant automaker is delaying the start of EV production in the crucial North American market longer than planned. This delay is substantial; the company aims to push the launch well forward to the first half of 2026.
Toyota previously said the delay would be only a matter of months. It is slated to begin the production of an electric SUV at its factory in Kentucky.
Source Fool.com
