The Toyota City, Japan-based automaker on Monday reported a 39% decline in third-quarter operating, also missing estimates. Even with the benefits of a weaker yen boosting repatriated profits, Toyota must contend with possible trade tensions after Trump criticized the automaker’s plans to build a Corolla plant in Mexico. In comparison, most major carmakers produce the majority of the vehicles sold in China locally, due partly to the tariffs China levies on car imports. Toyota has based its full-year earnings forecast on ¥107 per dollar and ¥118 per euro. Toyota sold 2.4 million vehicles in the US last year, down 2% from 2015.

Source: The Edge Markets February 06, 2017 13:41 UTC