• News
  • Guides
  • Reviews
  • Media
  • About
  • News
  • Guides
  • Reviews
  • Media
  • About
Sign up Now (For Free)

Sign up for our newsletter and receive the latest automotive news in your inbox!

Invalid email address
We promise not to spam you. You can unsubscribe at any time.
Thanks for subscribing!
News
Read Now
  • All News
  • Automakers
  • Automobiles
  • Auto Shows
  • Business
  • EVs & Environment
  • Guides
  • Lawsuits/Legal
  • Regulatory
  • Ride-Sharing
  • Safety & Recalls
  • Technology
Recent
  • The Rearview Mirror: A Sports Car from a Company You've Never Heard Of
  • Analysts Predict Declining Tesla Sales in Q3
  • Overlanding is the New Hotness
  • New Vehicle Sales Increase in September
  • Are EVs Affordable? Only if You’re a Luxury Buyer
  • Honda Takes Wraps Off New All-Electric Prologue
  • Mercedes to Offer True Self-Driving in Late 2023
  • Biden Meets UAW Picketers, Offers Support
  • Ford Halts $3.5B MI Battery Plant; Fain Slams Company
  • An Electric Acura NSX Could Be Coming
Editor’s Choice
    Reviews
    Read Now
    • All Reviews
      • Feeder
    • Classic Cars
    • Concept Cars
    • Convertibles
    • Coupes
    • Crossovers/CUVs
    • Diesel
    • Hot hatches
    • Hybrids
    • Luxury Vehicles
    • Minivans
    • Muscle Cars
    • Pickups
    • Sedans
    • Sports Cars
    • Super Cars
    • SUVs
    Recent Reviews
    • A Week With: 2024 Buick Encore GX Sport Touring AWD
    • A Week With: 2023 Mercedes-Benz EQB 250+
    • A Week With: 2024 Mazda CX-90 Turbo S Premium Plus
    • A Week With: 2024 Mercedes-AMG EQE SUV
    • A Week With: The 2024 BMW i7 xDrive60
    • A Week With: 2024 Alfa Romeo Tonale Veloce AWD
    • A Week With: 2023 Toyota Camry XSE Hybrid
    • A Week With: 2024 Subaru Impreza RS
    • A Week With: 2023 Chevrolet Colorado ZR2 Desert Boss
    • First Drive: 2024 Polestar 2
    Editor’s Choice
      Guides
      Car Warranty
      • Endurance Warranty Reviews
      • BMW Extended Warranty
      • Extended Warranty For Cars Over 100k Miles
      • Extended Car Warranty Cost
      • Subaru Extended Warranty
      • CarShield Reviews
      • CarShield Cost
      • Aftermarket Car Warranty
      • CARCHEX Warranty Reviews
      • Reputable Extended Car Warranty Companies
      • Used Car Warranty Companies
      • Best Car Warranty
      • Is CarShield A Scam?
      • Mercedes Extended Warranty
      • CarShield Plans
      Insurance
      • How To Identify A Car Insurance Company
      • Geico Mechanical Breakdown Insurance
      • How Far Back Does A Car Insurance Company Look
      • Mechanical Breakdown Insurance For Used Cars
      • State Farm Mechanical Breakdown Insurance
      • Mechanical Breakdown Insurance From Progressive
      • Dollar A Day Insurance
      • Auto Insurance For SSI Recipients
      • Car Insurance Rates After A Suspended License
      • Auto Insurance For Salvage Vehicles
      • Average Cost of Dodge Ram 1500 Car Insurance
      • Car Insurance Florida
      • Full Coverage Auto Insurance
      • GrubHub Insurance
      • Amazon Delivery Auto Insurance
      Shipping
      • Car Shipping Companies
      • uShip Reviews
      • Auto Shipping From California To Hawaii
      • Montway Auto Transport Reviews
      • Cheap Car Shipping
      • Easy Auto Ship Reviews
      • Auto Shipping Miami
      • Auto Shipping To Alaska
      • Car Shipping Cost
      • Auto Shipping Hawaii
      • Auto Shipping Puerto Rico
      • Sherpa Auto Transport Reviews
      • Auto Shipping Atlanta
      • Auto Shipping Boston
      • Auto Shipping. Chicago
      About
      • About Us
      • Contact Us
      • Terms of Use
      • Privacy Policy
      • Affiliate Disclosure
      • Sitemap
      TheDetroitBureau.com

      More than just “another” place to find news, reviews, spy shots, commentary, features, and guides about the auto industry. TheDetroitBureau doesn’t stop with the press releases or confuse a few lines of opinion with insightful, in-depth reporting.

      Contact Us

      Like what you see? Have some ideas for making The Detroit Bureau.com even better? Let us know, we’d love to hear your voice.

        Media
        Listen Now
        • Headlight News: All Episodes
        More from TheDetroitBureau
        • Guides
        • Latest News
        • Auto Reviews
        • Podcasts
        Headlight News

        TheDetroitBureau.com’s Headlight News offers a look at the past week’s top automotive news stories, as well as what’s coming up in the week ahead. Check out the week’s top story and our latest review…along with a dive into the past with this week in automotive history.

        home > news > Automakers > Tesla Now Worth More Than All Japanese Automakers, But Toyota’s CEO Isn’t Impressed

        Tesla Now Worth More Than All Japanese Automakers, But Toyota’s CEO Isn’t Impressed

        Toyoda notes Tesla's sales are just 5% of Japanese automaker's.

        Paul A. Eisenstein
        Paul A. Eisenstein , Publisher & Editor-in-Chief
        Nov. 09, 2020
        Toyota CEO Akio Toyoda suggested Tesla isn’t a serious automotive company yet.

        Tesla shares dipped nearly 2% Friday but still closed at nearly $430 a share, giving the upstart automaker a market capitalization of $408 billion. To save you the math, that’s more than all seven of the mainstream Japanese automakers – including giant Toyota which has a market valuation of “just” $189 billion.

        That doesn’t sit well with Akio Toyoda, the Toyota CEO who all but sniffed at his American rival during an earnings call. While the grandson of the company’s founder did start out with a bit of praise for Tesla’s meteoric rise, he went on to suggest it wasn’t a serious player in the automotive market, at least not yet.

        “Tesla says that their recipe will be the standard in the future, but what Toyota has is a real kitchen and a real chef,” the 64-year-old Toyoda said, responding to a reporter’s question.

        (Despite record Q3 results, Tesla stock only gets small bump.)

        Toyota remains committed to its line-up of hybrids and plug-in hybrids.

        “We are losing when it comes to the share price,” he added. “But when it comes to products, we have a full menu that will be chosen by customers.”

        Toyota finished 2019 as number two in the global sales sweepstakes, just behind German rival Volkswagen AG. Tesla is hoping to finish 2020 with all-time-high volume of around 500,000, That total is barely 5% of Toyota’s, which hit 10.74 million sales last year, though volume will be off in 2020 due to pandemic-related issues.

        But Toyoda is learning a lesson that his Detroit rivals have already had to come to grips with: that Wall Street and investors don’t see Tesla playing in the same game. At least, that’s what they’re sticking with while CEO Elon Musk lays out plans to rapidly expand production, with Tesla’s Shanghai plant accelerating operations and new plants under construction in near Berlin and Austin, Texas.

        (Tesla shipping Model 3 sedans from Shanghai to Europe.)

        The stock price gap was a central issue during General Motors’ earnings call last week, CEO Mary Barra repeatedly hammered on its flat numbers by market analysts. For her part, Barra said she believes that GM’s unexpectedly strong earnings, as well as its push into electrification “will change the way customers and investors will view our company.” But that isn’t happening yet.

        Tesla CEO Elon Musk’s quickly expanding EV company is still lacking, Toyoda says.

        While Toyota may have a long history – and a real chef – the company is facing the same sort of challenges as its rivals: how to meet changing government mandates and consumer demands. So far, Tesla is the only automaker, at least outside of China, to make a real successful push into the battery-electric vehicle market. Of all its major, traditional competitors, Toyota has been one of the most reluctant to follow its lead.

        Toyota is still focused on conventional hybrids and is dipping its toes deeper into the waters of plug-in hybrids. But it remains reluctant to shift focus to pure BEVs. Even little Aston Martin and ultra-luxurious Bentley have announced more aggressive programs, the latter, a subsidiary of Volkswagen AG, last week announced that it will be using 100% BEV powertrains by the end of the decade.

        When will Toyota jump in is a big question, and Toyoda and other company officials have hinted in recent months that they could – and would – move quickly once that decision is made. The Nikkei recently reported that Toyota has laid out internal plans of reaching sales of 500,000 BEVs annually by mid-decade.

        (Toyota surprises analysts, turns small Q1 profit.)

        Perhaps when the plan is fully outlined and truly competitive offerings are unveiled, then investors will begin to view Toyota in the same light as Tesla.

        How to Care for Your Car

        Cheap Car Warranty

        Editor's Choice

        Best Extended Car Warranty

        Editor's Choice
        Recently Published

        The Rearview Mirror: A Sports Car from a Company You’ve Never Heard Of

        Sept. 30, 2023

        Analysts Predict Declining Tesla Sales in Q3

        Sept. 29, 2023

        Overlanding is the New Hotness

        Sept. 29, 2023

        Leave a Reply Cancel reply

        Your email address will not be published. Required fields are marked *

        Share this article:
        © The Detroit Bureau 2023
        • Guides
        • Privacy Policy
        • Terms of Use
        • Affiliate Disclosure
        • Contact Us
        • Sitemap
        Follow Us: