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MarketScreener Homepage  >  Equities  >  Tokyo Stock Exchange  >  Toyota Motor Corporation    7203   JP3633400001

TOYOTA MOTOR CORPORATION

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Toyota to offer cars in India on lease, subscription

08/18/2020 | 10:51am EST
The Toyota company logo is pictured at the India Auto Show 2018 in Greater Noida

Toyota Motor Corp will offer its cars in India on leases or shorter-term subscriptions, hoping to tap growing demand for private transport as travelers cut down on communal journeys in the COVID-19 pandemic.

The Japanese automaker said on Tuesday it would offer leasing plans to corporate and retail customers of three to five years across its portfolio of cars - including the Glanza hatchback, Yaris sedan and Fortuner sport-utility vehicle - for as little as 21,000 rupees ($281) a month.

Naveen Soni, senior vice president, sales and service at the carmaker's India unit, said the need for safe transport was growing and leasing or subscription models offered a more cost-effective solution than buying a car.

So far, leasing and subscription services in India have largely focussed on the higher end of the auto market and therefore make up a fraction of the overall numbers, said Soni.

"The lower end of the market is where the bulk is," he said, adding that was where Toyota would also focus.

Toyota's competitors in India, such as Maruti Suzuki and Hyundai Motor Co, have formed partnerships to offer similar services, as carmakers look to boost revenues amid the pandemic.

Toyota's India unit has formed a separate team to drive the business and it will partner with its Japanese parent's global mobility services brand, KINTO, as well as ALD Automotive and SMAS Auto Leasing.

By Aditi Shah


© Reuters 2020
Stocks mentioned in the article
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ALD 2.74% 12.74 Real-time Quote.10.78%
HYUNDAI CORPORATION -2.27% 17250 End-of-day quote.8.15%
HYUNDAI MOTOR COMPANY -4.19% 240000 End-of-day quote.25.00%
MARUTI SUZUKI INDIA LTD -1.53% 8024.75 Delayed Quote.4.90%
TOYOTA INDUSTRIES CORPORATION -2.32% 8420 End-of-day quote.2.81%
TOYOTA MOTOR CORPORATION -1.65% 7733 End-of-day quote.-2.82%
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Financials
Sales 2021 26 136 B 252 B 252 B
Net income 2021 1 529 B 14 726 M 14 726 M
Net Debt 2021 15 002 B 144 B 144 B
P/E ratio 2021 14,5x
Yield 2021 2,89%
Capitalization 21 621 B 208 B 208 B
EV / Sales 2021 1,40x
EV / Sales 2022 1,26x
Nbr of Employees 359 542
Free-Float 62,2%
Chart TOYOTA MOTOR CORPORATION
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Toyota Motor Corporation Technical Analysis Chart | 7203 | JP3633400001 | MarketScreener
Technical analysis trends TOYOTA MOTOR CORPORATION
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TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 21
Average target price 8 122,22 JPY
Last Close Price 7 733,00 JPY
Spread / Highest target 24,1%
Spread / Average Target 5,03%
Spread / Lowest Target -27,6%
EPS Revisions
Managers and Directors
NameTitle
Akio Toyoda President, CEO & Representative Director
Takeshi Uchiyamada Chairman
Kenta Kon Chief Financial Officer
Seiji Sakai Manager-Information Systems & IT Management
Masahito Maeda Chief Technology Officer
Sector and Competitors
1st jan.Capitalization (M$)
TOYOTA MOTOR CORPORATION-2.82%208 300
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GENERAL MOTORS COMPANY20.00%71 522
BMW AG-3.90%54 163
GREAT WALL MOTOR COMPANY LIMITED-3.01%51 116