Toyota (NYSE:TM) reported excellent Q1 FY 2013 earnings Monday morning before the bell and they were outstanding. The world’s largest auto manufacturer earned 290.3 billion Yem ($3.1 billion US) and sales have been so brisk worldwide that they raised their calendar year guidance to 9.76 million cars which would put them on pace for their 2nd best year in company history.
After Fukishima and the flooding in Thailand which sidelined a major plant last winter it was thought that Toyota would lose some of its market share to competitors who filled in for their lack of supply. Volkswagen certainly has seen a rise in sales, but Ford (NYSE:F) and GM (NYSE:GM), outside of their near biblical channel stuffing, have struggled to increase sales overall. In the end Toyota’s brand cache, like the one that VW is building frankly, is very strong. It doesn’t hurt that while Ford and GM have improved their cars, Ford in particular, they haven’t done so to come close to Toyota, regardless of the incessant harping on little quality problems in the U.S. Press.
Never forget that Toyota has survived a near 4 year witch hunt by the Obama administration to tear them down for GM’s benefit since President Obama stiffed GM’s bondholders and handed the company to a bunch of Democrat-voting UAW ne’er-do’wells.
Toyota has such a lead over GM and Ford in most of the emerging markets of Southeast Asia that it’s silly to even consider the possibility of their being assaulted by those companies, regardless of how good their cars may become.Previous Post » Gold Builds on Friday’s Gains