Why Toyota Motor Stock Popped Today
Shares of Japanese automotive heavyweight Toyota Motor (NYSE: TM) jumped 2% through 10:20 a.m. ET on Wednesday after the company unveiled its newest automotive offering, a new "high-end passenger vehicle used primarily for chauffeur services" that retails for $170,000.
As The Wall Street Journal reported this morning, the new Toyota Century is the latest version of a vehicle "traditionally used by Japanese royals and CEOs" -- now available for sale internationally.
Manufactured in various formats since 1967, the latest Century features new plug-in hybrid technology. The car is built and customized by hand, so it won't be anything like a plug-in Prius -- either in price tag or in numbers. As the Journal observes, Toyota is only planning to produce about 30 Centuries per month.
Source Fool.com
