PHILADELPHIA, June 28, 2024 (GLOBE NEWSWIRE) -- A securities fraud lawsuit has been filed against Toyota Motor Corp. (“Toyota” or the “Company”) (NYSE: TM). The lawsuit is captioned Abeed v. Toyota Motor Corp., et al., No. 2:24-cv-05284 (C.D. Cal.), and is filed on behalf of purchasers of Toyota securities between June 23, 2022 and June 2, 2024, inclusive (the “Class Period”). CLICK HERE TO LEARN MORE ABOUT THIS LAWSUIT. Investors who purchased or acquired Toyota securities during the Class Period may, no l ...

NEW YORK, June 28, 2024 /PRNewswire/ -- The Gross Law Firm issues the following notice to shareholders of Toyota Motor Corporation (NYSE: TM).Shareholders who purchased shares of TM during the class period listed are encouraged to contact the firm regarding possible lead plaintiff appointment. Appointment as lead plaintiff is not required to partake in any recovery.CONTACT US HERE:https://securitiesclasslaw.com/securities/toyota-loss-submission-form-2/?id=87839&from=4CLASS PERIOD: June 23, 2022 to June 2, 2 ...

LOS ANGELES, June 26, 2024 (GLOBE NEWSWIRE) -- The Schall Law Firm, a national shareholder rights litigation firm, reminds investors of a class action lawsuit against Toyota Motor Corporation (“Toyota” or “the Company”) (NYSE: TM) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission. Investors who purchased the Company’s securities between June 23, 2022 and June 2, 2024, inclusive (the “Class Period”), ...

Fielding seven competition teams with fourteen participants in this year's eventWill field a team in the X-CROSS® Class for first timePresenting sponsor of the event's Live Webcast for third consecutive yearPLANO, Texas, June 26, 2024 /PRNewswire/ -- Toyota Motor North America (Toyota) today announced it has renewed its commitment to Rebelle Rally, the leading women-only off-road navigation rally, as a sponsor and multi-team participant for the third consecutive year. This year, fourteen Toyota team members ...

Core Viewpoint - Rivian Automotive is positioned to benefit from reduced competition in the EV market as major players like Toyota shift focus away from electric vehicles, allowing Rivian to capture market share without facing significant competition from traditional automakers [6][10]. Group 1: Rivian's Current Position and Strategy - Rivian is making significant progress in achieving profitability from existing production levels, with a focus on improving production efficiency at its Normal, IL plant [9]. - The company has retooled its plant to enhance R1 production efficiency, aiming for a gross margin improvement by Q4 2024 [9]. - Rivian's Q1 2024 gross loss per unit delivered was $39,784, but management plans to reduce this loss significantly by Q3 2024 [9]. Group 2: Future Catalysts - The launch of lower-end R2 and R3 models is expected to provide a substantial market opportunity, with production plans set for 215,000 units, focusing primarily on these new models [9]. - Rivian's long-term sales projections suggest potential revenue of $47 billion by 2030, with a significant increase in production capacity from its plants [9]. - The upcoming Investor Day on June 27, 2024, could serve as a major catalyst for the stock if management confirms a reduction in loss per unit [10]. Group 3: Competitive Landscape - Toyota's shift towards internal combustion engines (ICE) and hybrid vehicles reduces competition for Rivian in the EV market, as the company focuses on expanding its electric vehicle offerings [6][10]. - Rivian's market position is strengthened by the retreat of other major automakers like Ford from aggressive EV production, allowing Rivian to capture a larger share of the market [6][8].

Core Viewpoint - A class action lawsuit has been filed against Toyota Motor Corp Ltd for alleged violations of federal securities laws, claiming that the company made false statements and failed to disclose critical information regarding its legal compliance and vehicle certification issues [1][3]. Group 1: Class Definition - The lawsuit seeks to recover damages for all individuals and entities that purchased Toyota securities between June 25, 2022, and June 2, 2024, referred to as the "Class Period" [2]. Group 2: Case Details - The Complaint alleges that during the Class Period, Toyota understated its malfeasance related to vehicle certification and legal compliance, leading to materially false and misleading statements about its business and operations [3]. - The lawsuit claims that when the true details were revealed, investors suffered damages as a result of the misleading information provided by the defendants [3]. Group 3: Next Steps - Investors who suffered losses in Toyota have until August 23, 2024, to request to be appointed as lead plaintiff in the class action lawsuit [4]. Group 4: Legal Representation - The law firm representing the investors operates on a contingency fee basis, meaning they will only seek reimbursement for expenses and attorney fees if they are successful in the case [5][6].

Core Points - A class action lawsuit has been filed against Toyota Motor Corporation for alleged securities fraud and unlawful business practices [1] - Toyota disclosed that it mishandled vehicle testing for several models, including failing to gather proper data for safety tests on three models [2] - Following the announcement of the mishandled tests, Toyota's American depositary share price dropped by $5.34, or 2.45%, closing at $212.17 [2] Group 1 - The class action lawsuit is based on claims that Toyota and certain officers/directors engaged in securities fraud [1] - Shareholders who purchased Toyota securities during the Class Period can request to be appointed as Lead Plaintiff by August 23, 2024 [1] - Toyota's announcement regarding the mishandled safety tests was made after an investigation prompted by the Ministry of Land, Infrastructure, Transport and Tourism [2] Group 2 - The New York Times reported that Toyota and other Japanese automakers acknowledged mishandling vehicle testing over the past decade [2] - The specific models mentioned include the popular Yaris Cross sport utility vehicle, which was part of the safety test failures [2] - Pomerantz LLP, the firm handling the class action, has a long history in corporate and securities class litigation, recovering billions for class members [3]

Core Viewpoint - Toyota's new marketing campaign aims to attract Millennial and Gen Z buyers, potentially making its stock appear undervalued [1][3] Group 1: Marketing Campaign - The campaign features a 4.5-minute short film titled "Getaway Driver," starring internet personality "King Bach," set to be released on Toyota's YouTube channel [1] - A 30-second teaser shows King Bach escaping in a Corolla from a "dude with a chainsaw," highlighting the Corolla hybrid's acceleration and fuel efficiency of 44 miles per gallon [2] - The campaign targets younger consumers and promotes the Corolla as an entry-level vehicle, emphasizing its hybrid features to align with environmental concerns [2] Group 2: Stock Valuation - Toyota's stock is currently priced at 8.5 times trailing earnings, indicating a potentially attractive valuation [3] - Analysts project a long-term growth rate of 15.9% for the company, resulting in a price/earnings-to-growth (PEG) ratio of 0.5, which is considered cheap [3] - The stock also offers a dividend yield of 2.4%, appealing to dividend investors [3]

Group 1: Lexus Charging Stations - Lexus charging stations in Japan are now open to all EV brands, previously exclusive to Lexus owners [1] - The charging stations feature 150kW max quick chargers, charging fee is ¥120 per minute, and reservations are required [1] - Currently, there are two Lexus rapid charging stations in Japan, with plans to expand to 100 stations by 2030 [1][2] Group 2: Adoption of North American Charging Standard (NACS) - The adoption of Tesla's NACS has gained traction, with Ford being the first to commit, followed by other brands including Toyota and Lexus [2] - Companies that adopted NACS, such as Ford, GM, and Rivian, are now eligible to use Tesla's Superchargers [2] - Toyota is facilitating a similar transition in Japan by making Lexus charging stations accessible to all EVs [2] Group 3: EV Sales Performance - Toyota sold 206,850 units of EVs in Q1 2024, representing a 74% year-over-year increase [3] - EV sales contributed 36.6% to Toyota's total sales volume [3]

Global Automotive Market and Sales Performance - Toyota sold 9,443 thousand vehicles in fiscal 2024, with sales revenues of ¥45,095.3 billion and net income of ¥5,071.4 billion[43] - 21.1% of Toyota's automobile unit sales were in Japan, 29.8% in North America, 12.6% in Europe, and 19.1% in Asia during fiscal 2024[47] - The global automotive market expanded by 9% year-over-year in 2023, driven by pent-up demand and eased semiconductor supply constraints[49] - Toyota estimates annual worldwide vehicle sales totaled approximately 89 million units in 2023[48] - In fiscal 2024, Toyota's sales in North America reached ¥17,624,268 million, Europe ¥5,503,738 million, and Asia ¥7,604,269 million[46] - Toyota's automotive sales revenue reached ¥41,266.2 billion in fiscal 2024, up from ¥33,820.0 billion in fiscal 2023 and ¥28,605.7 billion in fiscal 2022[115] - Toyota's total vehicle unit sales increased from 8,230 thousand units in 2022 to 9,443 thousand units in 2024, with North America being the largest market at 29.8% of total sales in 2024[122] - In Japan, Toyota's market share (excluding mini-vehicles) remained stable at 51.1% in 2022 and 2023, and increased to 51.8% in 2024[124][125] - Toyota's North American retail sales decreased from 2,681 thousand units in 2021 to 2,617 thousand units in 2023, with market share declining from 15.0% to 13.9%[124] - In Europe, Toyota's retail sales increased from 1,076 thousand units in 2021 to 1,174 thousand units in 2023, with market share fluctuating between 6.4% and 7.3%[124] - Toyota's vehicle production in Japan increased from 3,738 thousand units in 2022 to 4,042 thousand units in 2024, maintaining its position as the largest production base[138] - In China, Toyota's vehicle sales decreased slightly from 1.94 million units in 2022 to 1.90 million units in 2023, with a market share of 8.4% in the domestically produced passenger vehicle market[133] - Toyota's production in Asia increased significantly from 1,499 thousand units in 2022 to 1,876 thousand units in 2024, reflecting the growing importance of the region[138] Regional Market Performance - The automotive market in China grew to approximately 26.00 million units in 2023, representing 30% of the global market share[51] - Toyota expects the automotive market to grow in the medium- to long-term, driven by growth in China and other emerging countries[52] - Toyota's distribution network in Japan consists of 236 dealers operating approximately 4.5 thousand sales and service outlets, with a focus on improving showroom and online sales[140][141] - The Lexus brand in Japan is distributed through a dedicated network of 187 new-vehicle sales outlets, enhancing Toyota's competitiveness in the luxury automotive market[142] Financial Performance and Operations - Toyota's automotive operations generated ¥41,080,731 million in sales, financial services ¥3,447,195 million, and all other operations ¥567,399 million in fiscal 2024[44] - The company operates through 577 consolidated subsidiaries and 165 associates and joint ventures as of March 31, 2024[41] - Toyota's financial services revenue grew to ¥3,484.1 billion in fiscal 2024, with a 30% share of financing for new Toyota and Lexus vehicle sales[214] - Finance receivables for Toyota's dealer and customer financing operations increased by 27.9% to ¥31,694.3 billion as of March 31, 2024[217] - Approximately 40% of Toyota's unit sales in the U.S. during fiscal 2024 included a finance or lease arrangement with Toyota[218] - Toyota Finance Corporation has 16.2 million credit card holders as of March 31, 2024[226] - Sales revenues from Toyota's non-automotive business activities totaled ¥1,368.1 billion in fiscal 2024[227] Environmental and Sustainability Goals - Toyota aims to reduce average CO2 emissions for vehicles sold worldwide by 33% or greater by 2030 and by 50% or greater by 2035 compared to 2019[65] - Toyota targets carbon neutrality at all global plants by 2035 and aims to reduce BEV production line processes by half through TPS improvements[73] - Toyota will increase battery efficiency for PHEVs to extend EV-mode driving range beyond 200 km, repositioning them as "the practical BEV"[74] - Toyota plans to mass-produce FCEVs, focusing on commercial vehicles, and has started basic research on hydrogen engines for heavy-duty commercial vehicles[75] - Toyota is conducting demonstration experiments in Woven City for CO2-free hydrogen supply chains and city-integrated autonomous mobility, with plans for real-city implementation from 2025[70] - Toyota is collaborating with partners in Thailand to address regional issues like traffic congestion, air pollution, and road accidents using electrification and connected technologies[84] - Toyota incurred significant costs to comply with environmental and safety regulations, viewing leadership in environmental protection as a competitive factor[228] Electric and Hydrogen Vehicle Development - Toyota plans to release next-generation BEVs in 2026 with double the driving range of the current bZ4X, using more efficient batteries[72] - Toyota's new BEV development unit, created in May 2023, has halved per-unit development costs and investment in in-house production compared to pre-TNGA levels[74] - Toyota will expand its BEV lineup in developed countries, including a three-row SUV in the U.S. in 2025 and locally developed models like the bZ3C and bZ3X in China[82] - Toyota aims to achieve cost reductions and continuous improvement (Kaizen) by leveraging TPS strengths, enhancing investment capacity for BEV and mobility growth[83] - Toyota plans to expand its battery production capacity in North America, aiming to produce over 30GWh annually for BEV/PHEV batteries by adding eight new production lines[128] - Toyota plans to increase annual BEV sales to 3.5 million units by 2030, up from the previous target of 2 million units[147] - Toyota will invest up to 730 billion yen in Japan and the US for BEV battery production, aiming for a capacity increase of up to 40 GWh[148] - Toyota aims to introduce 10 new BEV models by 2026 and achieve annual sales of 1.5 million BEV units by the same year[148] - Next-generation BEVs planned for 2026 will double the driving range of the current bZ4X using more efficient batteries[148] - Toyota plans to invest approximately 5 trillion yen in BEV production, battery plants, and R&D through 2030[155] - The company aims to achieve a cruising range of 1,000 km for next-generation BEVs by 2026, with a 20% cost reduction and quick charge time of 20 minutes or less[156] - Toyota is developing low-cost liquid lithium batteries with a 20% increase in cruising range and 40% cost reduction compared to the current bZ4X, targeting commercialization in 2026-2027[157] - The high-performance version of the bipolar lithium-ion battery aims for a 10% increase in cruising range and a 10% cost reduction, with commercialization expected in 2027-2028[161] - Toyota is advancing the development of all-solid-state batteries, targeting commercialization in 2027-2028, with a partnership with Idemitsu Kosan Co., Ltd. for mass production[163] - The company expects to receive offers for 100,000 units of fuel cells annually by 2030, primarily for commercial vehicles[164] - Toyota aims to reduce manufacturing costs by 25% by unifying hydrogen tank standards for large commercial vehicles across Europe, the U.S., and Japan[171] - Trials of a new hydrogen electrolyzer developed by Toyota began in March 2023 at the DENSO Fukushima plant[172] - Toyota's hydrogen engine-equipped Corolla completed the Fuji 24 Hours Race in May 2023 after design improvements to address safety concerns[177] - The number of partners collaborating with Toyota on hydrogen engine development grew from 8 companies in May 2021 to 45 companies by the end of the 2023 season[178] Safety and Autonomous Driving Technologies - Toyota Safety Sense has been installed in more than 46 million vehicles globally as of March 2024 and is available in 144 countries and regions[188] - Toyota's HELPNET emergency reporting system automatically contacts operators when airbags deploy, enabling rapid emergency response[191] - Toyota's Advanced Drive system, equipped in Lexus LS and Mirai models, assists driving on expressways and supports Over-the-Air upgrades[194] - Commercial Japan Partnership Technologies (CJPT) was established in April 2021 to accelerate CASE implementation and address transportation industry challenges[197] - Toyota is implementing 580 electrified vehicles, including fuel cell electric trucks and BEV trucks, in Fukushima Prefecture and Tokyo for large-scale logistics[201] - Fukuoka City is implementing FCEVs for garbage compactor trucks, ambulances, and other daily-use vehicles, supported by local hydrogen stations[202] - AEON's Minami-Osaka distribution center demonstration project improved truck loading efficiency and expanded to Kyushu region, confirming certain improvements[203] - CJPT-Asia established to promote energy, data, and mobility solutions in Thailand, including renewable energy use and hydrogen production from biogas[204][205] - Woven City project to commence limited demonstration testing in 2025, focusing on automated driving, MaaS, personal mobility, robotics, smart homes, and AI[206][212] Regulatory Compliance and Governance - The company is addressing certification irregularities at subsidiaries Daihatsu, Hino, and Toyota Industries, with over 50 Toyota members joining Daihatsu to review regulations and conduct retests[99][100] - Toyota plans to outsource compact car development and certification to ensure compliance with laws and regulations, shifting responsibility from Daihatsu to Toyota[100] - The company is prioritizing the creation of "reserve capacity" in production and development, reducing maximum daily production from 14,500 units to improve workplace communication and safety[107] - Toyota is expanding its auditing of subsidiaries, focusing on corporate culture, workplace environment, and legal compliance, while also implementing self-inspection tools[111] - Toyota is strengthening internal control and risk management at subsidiaries, including the establishment of a new Governance, Risk, and Compliance Management Division at Daihatsu[108] - Japan elected as vice chair of WP.29 in November 2022 to lead international harmonization of vehicle regulations[231] - The EPA finalized Tier 3 tailpipe emission standards for passenger vehicles, light-duty trucks, and some heavy-duty vehicles, effective from model years 2017 to 2025, aligning with California's standards[233] - Tier 3 standards require reductions in gasoline's sulfur content starting in model year 2017[233] - The EPA announced Tier 4 emission standards for passenger vehicles, light-duty trucks, and some heavy-duty vehicles, effective from model year 2027 through 2032[234] - California's Advanced Clean Cars (ACC) program, established under a 2013 EPA waiver, includes LEV III regulations reducing smog-causing pollutants and greenhouse gases for model years 2015 to 2025[235][236] - LEV III regulations cover evaporative emissions and guaranteed useful life standards for passenger cars and light-duty trucks[236] Product Development and Innovation - Toyota is working towards making all its vehicles connected, leveraging big data to create new value and reform businesses[44] - Toyota is expanding its multi-pathway strategy, focusing on hybrid vehicles, BEVs (Battery Electric Vehicles), and hydrogen mobility, with BEVs being developed as "software-defined vehicles" (SDVs)[89] - The company is developing a new car architecture for BEVs, including compact and lightweight power units, aiming to integrate mobility values with social systems based on energy and data[89][90] - Toyota is accelerating R&D efforts to strengthen future value creation, with a focus on generative AI and automated driving technologies[90][91] - Toyota launched the all-new Crown in fiscal 2023, offering four variations to meet diverse customer needs, and plans to introduce new PHEVs (Plug-in Hybrid Electric Vehicles) in the future[118][119]