Global News

[ad_1] Akio Toyoda, president and CEO of Toyota Motor Corp. Kiyoshi Ota | Bloomberg | Getty Images DETROIT – Toyota Motor stock sealed its best week since 2009 on Friday, as the automaker laid out a robust plan for future all-electric vehicles and company scion Akio Toyoda became leader of the Japanese company's board. Shares of Toyota on the New York Stock Exchange closed Friday at $164.35 per share, down 2.3% for the day but still up 10.6% on the week. That 5-day gain is the stock's best week since April 2009 when shares increased 14.5%. Such a rally is not typical for the stock. It's only the third double-digit weekly gain in more than two decades for the relatively well-performing but mundane stock. Shares of the company are up 20% so far in 2023. The positive uptick this year comes as recent supply chain problems ease for the automotive industry, including Toyota, and after Toyoda, grandson of the company's founder, announced plans to transition from CEO to ...

[ad_1] 2024 Chevrolet Silverado HD ZR2 GM DETROIT – General Motors' U.S. vehicle sales increased by 18.8% in the second quarter compared with subdued results a year ago when the automaker was battling supply chain issues. The Detroit automaker reported sales Wednesday of 691,978 new vehicles from April through June. That compared with 582,401 vehicles during the second quarter of 2022. It also is a sequential increase compared with GM's first-quarter sales of just over 600,000 new cars and trucks. GM's second-quarter sales, along with those of other automakers such as Honda Motor, Nissan Motor and Stellantis, indicate demand for new vehicles remains strong as inventories of cars and trucks improve from historically low levels during the coronavirus pandemic and supply chain problems. Auto industry forecasters project U.S. new vehicle sales to have increased 16% to 18% during the second quarter compared with a year earlier. Cox Automotive recently increased its full...