Toyota, Tata Motors positioned to benefit from hybrid auto boom

(Image: Bloomberg)

Tue, 07 May 2024

By Harshita Swaminathan, Reina Sasaki, Justina T. Lee and Rachel Yeo (Bloomberg) -- A rapidly growing global market for hybrid electric vehicles should power earnings at major Asian automakers, including Japan’s Toyota Motor Corp and India’s Tata Motors Ltd. Toyota’s annual operating profit growth was probably the fastest since at least 2013, led by a recovery in North America and Europe. Japanese carmakers saw higher North American sales, which could continue in 2024 as US consumers opt for budget-friendly options....

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