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Toyota (TM) Unveils All-New Midsize Sedan Camry in Japan

Toyota Motor Corp. Ltd. TM has announced the launch of a newly improved Camry in Japan.  This new model will be sold through nationwide dealers, including Toyopet, Toyota Corolla and Netz dealers.

The new Camry design is based on core elements of Toyota New Global Architecture (“TNGA”) with an all-new platform, units, electronics and other core components. Raising these core characteristics is a human machine interface for easier driving. The model also includes a top-quality cabin and improved safety systems. These additional features have redefined the standard for high-end midsize sedans.

Originally debuted in 1980, the vehicle was sold only in Japan as the rear-wheel drive Celica Camry model. It was redesigned in 1982 as a front-wheel drive sedan catering to the global markets. Since then, it has been sold in over 100 countries world-wide.

In the U.S., it has been labelled as one of the best-selling passenger cars for 15 consecutive years right from Jun 2002 to Dec 2016. The overhauled Camry may also enter the U.S. markets in a big way in the coming days.

Toyota announced a new initiative called Toyota New Global Architecture that focuses on improving the product development process and increasing the competitiveness of production sites. The automaker plans to shift half of its total manufactured vehicles to new cost-saving platforms by 2020. It believes that it will be able to cut back development costs by 20% through the use of common components and shifting production.

Price Performance

Toyota has outperformed the Zacks categorized Automotive–Foreign industry in the last three months. The automaker’s shares have gained 2.7% during this period, while the industry has added 2.1%.

Zacks Rank & Stocks Pick

Toyota currently carries a Zacks Rank #3 (Hold).

Some better-ranked stocks in the auto space are Continental AG CTTAY, Daimler AG DDAIF and Cummins Inc. CMI, each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Continental has an expected long-term growth of 7.8%.

Daimler has an expected long-term growth of 2.8%.

Cummins has an expected long-term growth of 11.7%.

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Toyota Motor Corp Ltd Ord (TM): Free Stock Analysis Report
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Cummins Inc. (CMI): Free Stock Analysis Report
Continental AG (CTTAY): Free Stock Analysis Report
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