Toyota Motor (NYSE:TM) Corp is trading up 6.13% at 2234.50
Japanese automaker Toyota Motor (NYSE:TM) Corp is poised to outsell General Motors Co (NYSE:GM) in the United States in 2021, which would mark the first time the Detroit automaker has not led U.S. auto sales since 1931.
In the first nine months of 2021, Toyota sold 1.86 million vehicles in the United States compared with GM’s 1.78 million, or just over 80,000 more vehicles. For all of 2020, GM’s U.S. sales totalled 2.55 million, compared with Toyota’s 2.11 million and Ford Motor (NYSE:F) Co’s 2.04 million.
The year has been marred by a shortage of semiconductors used heavily in vehicles, forcing automakers to focus on their most profitable models.
The automakers are set to report full-year 2021 U.S. sales results on Tuesday. GM has been the largest seller of vehicles in the United States since 1931, when it surpassed Ford, according to data from industry publication Automotive News.
Toyota isn’t boasting about the expected accomplishment. Senior Vice President Jack Hollis said in a statement that the automaker is “grateful” for its loyal customers, but “being No. 1 is never a focus or priority.”
GM spokesman Jim Cain said the Detroit automaker had a very strong sales year in the United States in full-size SUVs and pickup trucks as it has focused on profitability, and as the supply of semiconductors improves, so will sales.
On technical fronts Toyota Motor (NYSE:TM) Corp RSI stood at 85.89 and currently stock is trading above all MA. So, BUY position can be taken with following target and stoploss:
TRADE SIGNAL – : Toyota Motor (NYSE:TM) Corp – BUY: 2234.50, TARGET: 2235.50, STOP LOSS : 2233.00