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Toyota Stock Is Trouncing Tesla. Hybrids Aren’t the Only Reason.

Toyota Stock Is Trouncing Tesla. Hybrids Aren’t the Only Reason.

Toyota stock is trouncing Tesla in 2024, and while a popular explanation is the consumer shift to hybrid vehicles, investors shouldn’t forget about the Yen. In 2023, Toyota exported some two million vehicles from Japan, about 20% of its total sales. There is also the benefit of a relatively lower cost structure, which can be used to expand profit margins or market share—or both.