Cramer Still Backing Toyota (TM)(GM)
As GM cuts production and Ford becomes a small company, Cramer thinks the US auto industry is fundamentally changing. He thinks Toyota Motor (TM-NYSE/ADR) is the investment in the US. Cramer said it is changing marketing efforts and there is a giant vacuum to fill in more sales with auto production cuts from US auto makers.
Toyota is also putting a car into NASCAR, which is very important. He said it is becoming more of an American car company and GM & Ford are essentially surrendering by shrinking their companies.
Ford and GM will have made 490,000 fewer cars this year and Toyota will be there to fill in the gap. TM makes 1.5 million cars here and sells 2.5 million cars here. Cramer thinks they'll be the biggest in America soon. Cramer also said Toyota has created more jobs here than almost anyone.
TM closed down 0.7% at $120.88 in regular trading, but traded up 0.4% to $121.30 in after-hours trading. Cramer has been positive on TM for many times, although this was his first recent entire-segment feature on the stock.
Jon C. Ogg
Toyota is also putting a car into NASCAR, which is very important. He said it is becoming more of an American car company and GM & Ford are essentially surrendering by shrinking their companies.
Ford and GM will have made 490,000 fewer cars this year and Toyota will be there to fill in the gap. TM makes 1.5 million cars here and sells 2.5 million cars here. Cramer thinks they'll be the biggest in America soon. Cramer also said Toyota has created more jobs here than almost anyone.
TM closed down 0.7% at $120.88 in regular trading, but traded up 0.4% to $121.30 in after-hours trading. Cramer has been positive on TM for many times, although this was his first recent entire-segment feature on the stock.
Jon C. Ogg
posted by douglas mcintyre at 4:24 AM
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