Toyota (TM) Subsidiary Reports Rise in October Vehicle Sales

Toyota Motor North America (TMNA), a subsidiary of Toyota Motor CorporationTM , reported October 2017 vehicles sales of 188,434. October 2017 had one less selling day compared with the prior year. Despite that, in terms of volume, sales rose 1.1% in October 2017 compared with the year-ago period. Also, sales grew 5.2% on a daily-selling-rate (DSR) basis.

The industry saw robust sales in the first month of fourth-quarter 2017. The company anticipates this upward trend to continue for the rest of the year.

The largest Japanese automakers' sales in China rose 13.5% in October from a year earlier to about 112,700 vehicles. Notably, in September, sales in China increased 14.1% in a year-over-year basis.

Toyota is one of the leading automakers in the world in terms of sales and production. October sales were driven by higher sales of light trucks, led by the 10th successive monthly sales record for RAV4. Moreover, the all-new 2018 Camry, with October sales of more than 26,000 units, is showing stellar performance.

Shares of Toyota have underperformed the industry it belongs to in the last three months. The company's shares have gained 10.1% compared with the industry's growth of 13%.

Currently, Toyota carries a Zacks Rank #3 (Hold).

A few better-ranked stocks in the auto space are Navistar International Corporation NAV , Cummins Inc. CMI and Ford Motor Company F .

Navistar and Cummins sport a Zacks Rank#1 (Strong Buy), while Ford carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks #1 Rank stocks here .

Navistar has an expected long-term growth rate of 5%.

Cummins has an expected long-term growth rate of 12.4%.

Ford has an expected long-term growth rate of 10.7%.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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