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    7203   JP3633400001

TOYOTA MOTOR CORPORATION

(7203)
  Report
Delayed Quote. Delayed Japan Exchange - 01/27 01:00:00 am
2163 JPY   -2.63%
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Auto executives expect EVs will own half of U.S., China markets by 2030 - survey

11/30/2021 | 07:14am EST
FILE PHOTO: A computer science professor's electric car is plugged in in her garage in Irvine, California

DETROIT (Reuters) - Auto industry executives expect electric vehicles will make up just over half of new vehicle sales in the United States and China by 2030, and could do so without receiving government subsidies, according to a new survey by accounting and consulting firm KPMG.

But combustion vehicles, including hybrids, are expected to retain a significant share of most major vehicle markets for years to come, according to KPMG's latest annual survey of 1,000 auto industry executives.

The speed at which automakers can phase out combustion engines and the carbon dioxide they emit is a pivotal issue for the global auto industry. A group of automakers and countries signed a statement earlier this month calling for phase-out of combustion vehicles globally by 2040 https://www.reuters.com/business/cop/six-major-carmakers-agree-phase-out-fossil-fuel-vehicles-by-2040-uk-says-2021-11-10, and by 2035 in richer nations.

But the world's two largest automakers by sales, Volkswagen AG and Toyota Motor Corp, and three of the world's biggest vehicle-buying nations - China, the United States and Germany - did not sign on.

The KPMG survey of auto industry executives found that they believe that electric vehicles will account for 52% of sales by 2030 in the United States, China and Japan, with lower percentages for Western Europe, Brazil and India. But behind those aggregate forecasts, industry executives have widely varying views.

For China, some auto industry executives expect EV sales by 2030 to be less than 20% of the market, while others believe the world's largest market could be 80% electric by then.

Electric vehicle sales around the world have been fueled so far by government subsidies. But 77% of the respondents to KPMG's survey said electric vehicles can achieve mass adoption within ten years without government aid as battery costs drop to parity with petroleum-fueled engines. However, 91% of auto executives said they support government subsidies.

The wide-ranging survey also found that 75% of executives surveyed expect their companies to sell "non-core" assets in the coming years as they re-evaluate what business lines will be viable as more new vehicles shift to battery-electric technology.

"There is going to be a lot of M&A," said Gary Silberg, global leader of KPMG's automotive practice.

Despite the supply-chain and pandemic disruptions of the past year, about 53% of the executives surveyed said they were confident the industry can achieve profitable growth over the next five years.

The most bullish executives were in the United States and China, the most pessimistic were in France, the survey found.

(Reporting by Joe White in Detroit; Editing by Matthew Lewis)

By Joseph White


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
TESLA, INC. 2.07% 937.41 Delayed Quote.-11.30%
TOYOTA MOTOR CORPORATION -2.63% 2163 Delayed Quote.5.51%
VOLKSWAGEN AG 2.67% 183.02 Delayed Quote.3.12%
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Analyst Recommendations on TOYOTA MOTOR CORPORATION
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Financials
Sales 2022 31 120 B 271 B 271 B
Net income 2022 2 720 B 23 722 M 23 722 M
Net Debt 2022 18 280 B 159 B 159 B
P/E ratio 2022 11,5x
Yield 2022 2,60%
Capitalization 30 698 B 268 B 268 B
EV / Sales 2022 1,57x
EV / Sales 2023 1,42x
Nbr of Employees 366 283
Free-Float -
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Toyota Motor Corporation Technical Analysis Chart | 7203 | JP3633400001 | MarketScreener
Technical analysis trends TOYOTA MOTOR CORPORATION
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Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 19
Last Close Price 2 221,50 JPY
Average target price 2 426,84 JPY
Spread / Average Target 9,24%
EPS Revisions
Managers and Directors
Akio Toyoda Director & General Manager-Asia
Kenta Kon Chief Financial Officer, Director & GM-Accounting
Takeshi Uchiyamada Director & Manager-Development Center 2
Keiji Yamamoto Chief Information & Security Officer
Seiji Sakai Manager-Information Systems & IT Management
Sector and Competitors
1st jan.Capi. (M$)
TOYOTA MOTOR CORPORATION5.51%268 467
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GENERAL MOTORS COMPANY-10.71%76 005
BAYERISCHE MOTOREN WERKE AG6.42%68 955