TOKYO: Toyota says it sold 10.35 million vehicles around the world this year, up 2 percent from the previous year, and predicts higher sales next year.
The number, announced Wednesday, is likely to put the Japanese automaker close to last year’s No. 1, Volkswagen of Germany.
Volkswagen sold 10.3 million vehicles last year, putting it ahead of Toyota and US automaker General Motors.
Toyota, which sold nearly 10.2 million vehicles worldwide last year, said it expects to sell 10.495 million in 2018.
Nissan-Renault, the alliance between Japan’s Nissan and Renault of France, which reported solid sales in the first half of this year, has run into some sales problems after inspections irregularities were reported at its Japanese plants. Nissan has been doing massive recalls and the scandal has dented sales.
The other automakers have not yet reported this year’s sales numbers.
Toyota executives repeatedly say they are not seeking to be No. 1 in global vehicles sales and that chasing numbers could even be unhealthy.
But competition is intense not only in major markets like the US and Europe but in relatively new markets like China and India, where growth is expected to be stupendous in coming years.
Toyota reported that sales grew 10 percent in Japan, while it grew 1 percent abroad, this year.
The maker of the Camry sedan, Prius hybrid and Lexus luxury models, was not as optimistic about its sales in Japan next year, projecting a 5 percent decline, while it sees its sales outside Japan would continue to grow.
Toyota says it sold 10.35 million vehicles this year
Toyota says it sold 10.35 million vehicles this year
Closing Bell: Saudi main market edges up to 11,458 points
RIYADH: Saudi Arabia’s Tadawul All Share Index closed Wednesday at 11,458.11, up 0.67 percent, or 76.28 points, driven by selective buying in real estate, insurance, and healthcare stocks.
The Nomu Parallel Market Index also finished higher, rising 0.44 percent to 23,855.01, while the MSCI Tadawul 30 Index added 0.69 percent to close at 1,543.87.
Trading activity was moderate, with total volume reaching 280 million shares and a traded value of SR6.32 billion ($1.68 billion).
On the gainers’ side, Marketing Home Group for Trading Co. surged 8.97 percent to SR59.50, leading advances. Al Ramz Real Estate Co. rose 6.42 percent to SR68.75, while Bupa Arabia for Cooperative Insurance Co. added 5.64 percent to close at SR164.80.
Al Aziziah REIT Fund gained 5.22 percent to SR4.23, and Alistithmar AREIC Diversified REIT Fund advanced 4.19 percent to SR7.70.
On the downside, Consolidated Grunenfelder Saady Holding Co. fell 4.27 percent to SR10.10. Thob Al Aseel Co. declined 4.01 percent to SR3.83, while National Gypsum Co. slipped 3.10 percent to SR15.92.
Tabuk Agricultural Development Co. ended the session down 2.65 percent at SR7.72, and Tourism Enterprise Co. fell 2.54 percent to SR13.81.
On the announcement front, Al Moammar Information Systems Co. said it has executed the investment agreement to acquire a 15 percent stake in the “Eltizam” electronic insurance platform, with a total investment value of SR19.5 million.
The company said the subscription and purchase agreement was signed on Jan. 28 between Al Moammar Information Systems and Eltizam Electronic Insurance Brokerage Co., following the board’s earlier approval of the transaction.
Shares of Al Moammar Information Systems closed at SR180.50, up 1.40 percent.
In a separate disclosure, Al Moammar Information Systems Co. announced the latest developments related to its participation as a founding shareholder in the establishment of a Shariah-compliant digital bank in Saudi Arabia, known as Vision Bank.
The company said a subscription agreement for a capital increase was jointly executed on Jan. 28 as part of a broader plan to raise Vision Bank’s capital to SR3 billion from SR1.5 billion.
Al Moammar Information Systems said the value of its subscription amounts to SR23.75 million, based on a pre-money valuation of SR3.2 billion for Vision Bank.
Alinma Bank announced that its board of directors has recommended increasing the bank’s capital by 20 percent through the capitalization of reserves and retained earnings via the issuance of bonus shares.
Under the proposal, shareholders would receive one bonus share for every five shares held, raising the bank’s capital to SR30 billion from SR25.0 billion.
The bank said the capital increase is intended to strengthen financial solvency and support future growth, subject to approvals from regulators and the extraordinary general assembly.
Alinma Bank said it has received a no-objection from the Saudi Central Bank.
Shares of Alinma Bank closed at SR28.26, up 3.21 percent.
