Toyota Motor Corporation (NYSE:TM) is one of the cheap blue-chip stocks to invest in now. On August 28, the company reported higher global vehicle sales for July, driven by strong overseas demand, despite slowing home market demand.
GongTo / Shutterstock.com
The Japanese automaker sold 899,449 vehicles, representing a 4.8% year-over-year increase, marking its seventh consecutive month of sales growth. The increase was driven mainly by strong demand in North America and Europe. On the other hand, sales in Japan decreased by 0.9% to approximately 118,000 units.
Switch Auto Insurance and Save Today!
Toyota is also increasingly shipping more electric cars, as they accounted for more than a third of global sales at 327,000 in July. The Japanese automaker is ramping up production to meet backlogged orders and strengthen its push into the electric vehicle space.
Toyota Motor Corporation (NYSE:TM) designs, manufactures, assembles, and sells vehicles, including passenger cars, vans, and commercial vehicles, along with associated parts and accessories globally. Beyond traditional cars, Toyota is transforming into a mobility company focusing on connected, automated, shared, and electrified (CASE) technologies.
While we acknowledge the potential of TM as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
READ NEXT: 10 Best Robinhood Stocks to Buy Right Now and 13 Best Long-Term Stocks to Invest in According to Warren Buffett.
Disclosure: None. This article is originally published at Insider Monkey.