Is Tesla changing the leading role in the automobile industry again due to the rush to cut target stock prices and the rapid rise in Toyota?

The depreciation of the yen and increased production and sales boosted Toyota's counterattack
Toyota's sharp rise has been supported by several factors, such as the depreciation of the yen, growth in production and sales, and a sense that the value of Japanese stocks is undervalued.

First,The depreciation of the yen benefits export-oriented Japanese companies like ToyotaIt's bringing it. Most of Toyota's production costs are in yen, and overseas sales are in local currency, so when the yen depreciates, Toyota's revenue in yen increases, and profit margins increase. The depreciation of the yen gave Toyota products a price advantage in overseas markets and contributed to an increase in unit sales.

Secondly,Manufacturing recovery and consumer preferencesAs a result, Toyota continued to win the title of world automobile sales volume. Toyota's global sales volume last year recorded a record high of 11.2 million units, up 7.2%. Supply restrictions have been relaxed, production has returned to normal, and the company's production growth is alreadyIt's back to its peak in 2019。

According to Toyota's latest financial results, Toyota's sales are mainly carried out in Japan, North America, and Europe. While sales of electric vehicles were sluggish, Toyota's sales volume in these regions showed an increase of 16% or more. According to Goldman Sachs, the market is reviewing the possibilities of hybrid products, which are Toyota's strengths.

Will the evaluation of Tesla change, and the automobile industry will change the leading role again
Both Tesla and Toyota stock prices were strong last year,As we enter 2024, the stock prices of the two companies are going in completely different directionsIt's moving to.

This can be seen from the performance of both companies. Toyota surpassed Tesla's profit margin in the first half of 2023, and there is a high possibility that it will once again become the most profitable automobile company in the world. In response to this, analysts are raising negative voices at Tesla due to frequent price cuts and a decline in gross profit margin for 4 consecutive quarters.

On Monday, Mizuho Securities will sell Tesla's stock priceFrom “buy” to “neutral”It was downgraded to, and it was announced that the target stock price was lowered from 270 dollars to 195 dollars.

As of this month, financial institutions that have lowered Tesla's target stock price have successively been Morgan Stanley, Deutsche Bank, Wells Fargo, UBS, and Goldman Sachs.The lowest is Wells Fargo's $128So, this25% lower than Tesla's current stock price。

Morgan Stanley strategist Adam Jonas said that the US marketTransition from early adopters of EV technology to mainstream purchasing classIt is being done, and many of them said they are unwilling to accept higher prices than gasoline cars.

“While changes in the tastes of automobile consumers around the world are boosting Toyota's stock price, Tesla's stock price is sluggish,” and if Tesla's stock price falls further 30% from the current level to $120, The crown of “the most valuable automobile company in the world” is returned to ToyotaI added.