Toyota Motor Corp (TM) Wants to Take On Google Maps Via Crowdsourcing

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Toyota Motor Corp (ADR) (NYSE:TM) today showed off via a video what they think will be the future of mapping. We all know that Google currently has the most used mapping product in the world with Google Maps, implementing street view cameras to make the maps more interactive and real. With that said Toyota Motor Corp (ADR) (NYSE:TM) is looking to take on Google in the area of mapping by relying on the crowd.

In the not-too-distant future virtually every vehicle will be equipped with cameras and image sensing technology in order to drive themsevles. As this happens basically each of these vehicles will have the capability to act in the same way as Google’s street view vehicles, which drive around collecting images of the roads they travel The problem is, however, that Google’s cars need to traverse over the same roads year after year in order for their images to stay up to date. Toyota Motor Corp (ADR) (NYSE:TM) wants to change all this by using the cameras on thousands of cars to constantly update data and images within their mapping database. They would also be able to map new signs, potholes and other possible dangers on the roads that these vehicles are constantly travelling. Toyota will be showing off some of these capabilities at the 2016 Consumer Electronics Show.

The stock is currently trading higher by 0.81% or $1.01 following the positive news, hitting $125.66 per share at the time of us publishing this article. About 195,362 shares traded hands. TM has declined 10.66% since May 19, 2015 and is downtrending. It has underperformed the S&P500 by 8.40%.

From a total of 2 analysts covering Toyota Motor Corporation (NYSE:TM) stock, 0 rate it a “Buy”, 0 a “Sell”, and 2 a “Hold”. This means that 0 of the ratings are positive. Toyota Motor Corporation was the topic of 2 analyst reports since August 19, 2015 according to the firm StockzIntelligence Inc. Jefferies downgraded shares on October 9 to a “Hold” rating.

TOYOTA MOTOR CORPORATION is a Japan firm mainly engaged in the automobile business and financial business. The company has a market cap of $208.69 billion. The Firm operates through three business divisions. It has 10.45 P/E ratio. The Automobile segment is engaged in the design, manufacture and sale of car products, including sedans, minivans, 2BOX cars, sport-utility vehicles and trucks, as well as the related parts and accessories.

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