At the 2016 Consumer Electronics Show in Las Vegas, NV, Toyota Motor Corp (ADR) (NYSE:TM) is on hand and has revealed their accelerated plan to bring connected vehicles onto roadways around the globe. The company says that it plans to leverage a vast amount of data in order to make cars safer, more advanced, and connected to other vehicles and objects around them. Toyota Motor’s (NYSE:TM) plan consists of four key areas which include:
– Expansion of their Data Communication Module (DCM) to allow for greater vehicle connectivity.
– Growth of the Toyota Big Data Center in order to support data-intensive connected services for their vehicles
– Safeguarding privacy and security of their new vehicles via improved vehicle communication systems.
– Upcoming business collaboration with UIEvolution, Inc. to provide much safer connected services to and from vehicles.
Toyota Motor Corp (ADR) (NYSE:TM) is just one of many companies, both traditional and new to the industry, to take on automated, conected vehicles. The stock is down 2.02% or $2.49 following the news, hitting $120.55 per share. Approximately 63,772 shares traded hands. TM shares have declined 10.77% since May 29, 2015 and are currently downtrending. It has underperformed the S&P500 by 7.76%.
From a total of 3 analysts covering Toyota Motor Corporation (NYSE:TM) stock, 0 rate it a “Buy”, 0 a “Sell”, and 3 a “Hold”. This means that 0 of the ratings are positive. Toyota Motor Corporation was the topic of 3 analyst reports since August 19, 2015 according to the firm StockzIntelligence Inc. Susquehanna initiated shares on December 22 with a “Neutral” rating. JP Morgan downgraded TM stock in a recent report from August 19 to a “Neutral” rating.
TOYOTA MOTOR CORPORATION is a Japan firm mainly engaged in the automobile business and financial business. The company has a market cap of $206.64 billion. The Firm operates through three business divisions. It has 9.94 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.