Bloomberg Anywhere Bloomberg Professional About Bloomberg


 
Toyota May Rise to $115 as Auto Market Rebounds, Barron’s Says

By Joe Sabo

June 14 (Bloomberg) -- Toyota Motor Corp. may rise to $115 over the next year if the U.S. automobile market rebounds and as company results improve, Barron’s reported, without citing a source.

Toyota is boosting production after May sales rose from those in April, Barron’s said. For the rest of the year, the automaker says it will increase by 65,000 units the number of vehicles it builds in the U.S., including the Camry, Corolla, Sienna, RAV4, Tacoma and Tundra models, the weekly newspaper reported in its June 15 edition.

Toyota has embarked on changes in leadership that included moving Akio Toyoda, the 52-year-old grandson of the company’s founder, to chief executive officer, and rehiring former executive Yoshima Inaba, who left two years ago, to help improve North American sales and assembly operations, Barron’s said.

Toyota’s American depositary receipts fell 24 cents to $78.84 in New York Stock Exchange composite trading on June 12 and are 20 percent higher so far this year. One ADR equals two ordinary shares.

To contact the reporter on this story: Joe Sabo at jsabo@bloomberg.net

Last Updated: June 14, 2009 13:40 EDT

Sponsored links